In a recently unveiled personal account, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits that chaotic era of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, he appointed the maverick academic Yanis Varoufakis to be his treasury head largely because of his international reputation and his very persuasive abilities as a communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal motives that included advancing his books and testing out his own game theories using Greece instead of genuinely fighting for the country's economic stability.
He wrote how those talks to prevent bankruptcy became “not only a method of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
Amid volatile negotiations, Greece found itself perilously close to leaving the eurozone.
At stake was not only the country's destiny but also those harsh austerity measures required in return for financial aid by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a public vote, an action that threw the EU into deeper crisis of identity.
Even though the referendum was won decisively by those against austerity, the prime minister was forced to ignore the result and negotiate a rescue deal from creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving creating a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally had proved himself “unfit for an agreement that required complex and sensitive management.”
He further wrote that Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and helped hawks who were pushing for Grexit.
This account of events has been met with fury along with shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
