Within his freshly published memoir, titled Ithaki, the ex- leader Tsipras pulls no punches as he revisits that chaotic era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's version, he selected that unorthodox economist Yanis Varoufakis to be his treasury head primarily due to the latter's worldwide fame and his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more of a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras suggests that Varoufakis had his own motives which included promoting Varoufakis's publications as well as experimenting with his own game theories using Greece instead of truly advocating its economic stability.
Tsipras wrote how those discussions to stave off insolvency became “not just a way of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
During volatile discussions, Greece came dangerously on the brink of exiting the single currency area.
At stake was both the country's future and those harsh austerity policies demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh conditions were put to a popular referendum, a move which plunged the EU into a further crisis of identity.
Although the referendum was won resoundingly by those against austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal from creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, the leader knew it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
