Within his recently unveiled memoir, named Ithaki, the former leader Tsipras pulls no punches as he revisits the chaotic era during Greece's debt drama.
An Unconventional Choice
In Tsipras's account, he selected the unorthodox academic Yanis Varoufakis to be his treasury head largely due to his global profile and Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, in reality, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief possessed a personal motives that involved promoting Varoufakis's publications and experimenting with his game theories using the nation rather than truly fighting for the country's financial survival.
He explained how those talks to prevent bankruptcy became “not only a way to secure improved terms for the country. They became a test, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid tense discussions, Greece found itself dangerously on the brink of leaving the single currency area.
At stake was both Greece's destiny and the punishing austerity policies required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, an action that threw the EU into a further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result then agree to a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan that included creating a parallel currency as well as issuing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts how his former ally had proved himself to be “unfit for a deal demanding complex and delicate handling.”
He also claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
The account of history has provoked anger along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.