Within his freshly published memoir, called Ithaki, the former premier Tsipras does not hold back while he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's version, he appointed the unorthodox economist Yanis Varoufakis as the treasury head mainly because of his worldwide fame and his very persuasive abilities as a speaker.
“He was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief possessed his own agenda that included promoting Varoufakis's books and experimenting with his theories on Greece rather than genuinely advocating its economic stability.
He noted that those talks to prevent bankruptcy were “not just a way to secure a better deal for the country. They became a test, an historic opportunity to prove the validity of his theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously close to exiting the eurozone.
On the line lay both Greece's future but also those harsh austerity policies demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and Reversal
That summer, those harsh conditions were subjected to a popular referendum, a move which threw the EU into further existential crisis.
Although the referendum was carried decisively by those against the cuts, Tsipras was forced to reject its outcome and agree to a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, Tsipras knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate handling.”
He also claimed how Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
The retelling of events has provoked fury along with stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
