Within his recently unveiled memoir, called Ithaki, the ex- premier Tsipras does not hold back while he examines that chaotic era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, he selected that maverick academic Yanis Varoufakis as the finance minister primarily because of his international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“He was, in reality, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis had his own motives that included promoting Varoufakis's publications and experimenting with his theories using the nation rather than truly advocating its economic stability.
Tsipras wrote that the discussions to avoid bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Talks
Amid volatile discussions, the country came perilously close to exiting the eurozone.
At stake lay not only the country's destiny but also the severe austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were subjected to a public vote, an action which threw the EU into a deeper existential crisis.
Although the referendum was won resoundingly by voters against austerity, the prime minister was forced to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and sensitive handling.”
He also wrote that his aggressive style made him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
This retelling of history has been met with fury and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
