Within his newly released memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he examines that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's version, Tsipras selected that unorthodox economist Yanis Varoufakis to be the finance minister mainly due to his worldwide fame and his “extremely attractive” skills when it came to communicator.
“He was, truthfully, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed a personal agenda that included advancing his publications and testing out his game theories using Greece rather than genuinely advocating its financial survival.
Tsipras noted that those discussions to stave off bankruptcy became “not only a way of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
During volatile negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line was both the country's destiny and the severe austerity measures required in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were subjected to a popular referendum, an action which threw the EU into deeper crisis of identity.
Although the vote was won resoundingly by those against austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing coupons to retirees, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also wrote that his aggressive style made him increasingly isolated among peers, endangered the country, and helped hawks who were advocating Grexit.
This retelling of events has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
