In a newly released personal account, called Ithaki, the former leader Tsipras pulls no punches as he revisits that chaotic era during Greece's debt drama.
A Controversial Appointment
As per Tsipras's version, Tsipras chose that unorthodox academic Yanis Varoufakis as the finance minister mainly because of the latter's international reputation along with his “extremely attractive” abilities as a speaker.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis had his own motives which involved promoting his publications and experimenting with his theories on Greece instead of truly fighting for the country's financial survival.
He explained that the discussions to stave off bankruptcy were “not just a method of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake was not only the country's destiny and the severe austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, a move which plunged Europe into a deeper existential crisis.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then negotiate a bailout package with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for a deal demanding complex and delicate handling.”
He also wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
This account of events has provoked fury and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
