Within his freshly published personal account, called Ithaki, the ex- leader Tsipras pulls no punches as he examines that turbulent period of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, Tsipras selected the maverick academic Yanis Varoufakis as the treasury head primarily because of the latter's worldwide fame along with Varoufakis's highly compelling skills when it came to public orator.
“He was, in reality, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges that his finance chief possessed his own agenda which included promoting his publications and testing out his economic models on the nation rather than genuinely fighting for its economic stability.
He wrote how the negotiations to prevent bankruptcy were “not only a way to secure improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile discussions, the country found itself perilously on the brink of exiting the eurozone.
At stake was not only Greece's future but also the harsh cutbacks required in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, a move that threw the EU into further crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, the prime minister had little option but to reject its outcome then negotiate a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hardliners that were advocating Grexit.
The retelling of history has been met with fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
