In a newly released autobiography, titled Ithaki, the ex- premier Tsipras pulls no punches as he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, he selected the unorthodox academic Yanis Varoufakis as his finance minister largely because of the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more of a star rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis possessed a personal motives that included advancing his publications and testing out his own game theories using Greece instead of genuinely advocating its economic stability.
He noted that those talks to prevent insolvency were “not just a way of achieving a better deal for Greece. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid rollercoaster negotiations, the country came perilously on the brink of exiting the eurozone.
On the line lay both Greece's future but also the harsh austerity policies required in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, a move which threw the EU into a deeper existential crisis.
Although the referendum was won decisively by voters against austerity, the prime minister had little option but to ignore the result and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing vouchers to retirees, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and delicate handling.”
Tsipras further claimed that his aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
The account of events has provoked anger and shock among certain groups, whereas the former minister has maintained a deafening silence on the matter.
