Within his newly released memoir, titled Ithaki, the ex- leader Tsipras pulls no punches as he reflects on that chaotic period during Greece's debt drama.
An Unconventional Choice
According to Tsipras's recollections, he chose the maverick academic Yanis Varoufakis to be the finance minister largely because of his international reputation along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, in reality, more like a star rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis possessed his own agenda that included advancing his books as well as experimenting with his game theories using the nation instead of truly fighting for the country's financial survival.
He wrote that the discussions to stave off bankruptcy became “not only a way of achieving a better deal for Greece. They were a test, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid volatile negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake lay not only the country's future and the harsh cutbacks required in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, a move which threw Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by voters against austerity, Tsipras had little option to ignore the result then negotiate a bailout package with foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving creating a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author concludes that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate management.”
He further claimed that his confrontational style left him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
This account of events has been met with fury along with shock in some quarters, while Varoufakis has maintained a deafening silence on the matter.
