In a freshly published personal account, called Ithaki, the former premier Tsipras spares no criticism while he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's account, he selected that maverick academic Yanis Varoufakis as the finance minister primarily due to the latter's global profile and his “extremely attractive” skills as a public orator.
“In reality, he was, actually, more of a star and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis had his own agenda that included promoting Varoufakis's publications as well as experimenting with his own game theories on the nation instead of truly fighting for its economic stability.
He wrote that those discussions to stave off bankruptcy became “not just a way of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake was both Greece's future but also the harsh austerity policies demanded in return for rescue loans from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were put to a public vote, a move that threw the EU into further crisis of identity.
Although the vote was won resoundingly by those against austerity, the prime minister was forced but to ignore the result then negotiate a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing coupons to retirees, the leader said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
This account of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
