In a recently unveiled autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he examines that chaotic era during Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis as the treasury head mainly due to the latter's international reputation along with his highly compelling abilities when it came to communicator.
“He was, actually, more of a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis possessed a personal agenda which included promoting Varoufakis's books as well as experimenting with his game theories on Greece instead of truly fighting for the country's financial survival.
Tsipras explained how those discussions to avoid bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country came perilously close to exiting the single currency area.
On the line was not only Greece's future and those punishing austerity measures demanded in return for rescue loans from international creditors.
Failed Options
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were put to a popular referendum, an action which threw Europe into a deeper existential crisis.
Although the referendum was carried decisively by those who opposed austerity, the prime minister had little option but to reject its outcome and agree to a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included creating a secondary currency and issuing coupons to retirees, the leader said he realised that it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He further claimed how his confrontational style left him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
The retelling of history has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
