In a recently unveiled autobiography, called Ithaki, the ex- leader Tsipras pulls no punches while he examines the turbulent period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, he chose the unorthodox academic Yanis Varoufakis as the finance minister mainly due to his worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“He was, in reality, more of a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis had a personal agenda that involved promoting his publications and experimenting with his theories on the nation instead of genuinely advocating its financial survival.
Tsipras noted how the negotiations to stave off insolvency became “not only a way to secure improved terms for the country. They became an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
During tense negotiations, Greece came perilously close to exiting the eurozone.
On the line was both Greece's future but also the punishing cutbacks required in exchange for rescue loans by foreign lenders.
Failed Options
Efforts to find financing from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh conditions were put to a public vote, a move which threw Europe into a deeper existential crisis.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option but to ignore the result then agree to a rescue deal from creditors that turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to pensioners, the leader knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras concludes how Varoufakis had proved himself “unfit for a deal that required intricate and sensitive management.”
Tsipras also claimed how his aggressive style made him increasingly isolated among peers, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
