Within his freshly published memoir, titled Ithaki, the former prime minister Tsipras spares no criticism while he examines the turbulent period of Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, he appointed the maverick economist Yanis Varoufakis as his finance minister primarily due to his worldwide fame and Varoufakis's “extremely attractive” abilities as a speaker.
“He was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief had his own agenda which involved promoting Varoufakis's publications and experimenting with his own game theories on the nation instead of genuinely fighting for the country's economic stability.
Tsipras wrote how the negotiations to avoid insolvency became “not just a method of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of his theories.”
Critical Negotiations
During rollercoaster discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line lay not only the country's future and the punishing cutbacks demanded in return for financial aid by international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those harsh conditions were put to a popular referendum, an action that threw Europe into further existential crisis.
Although the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and delicate management.”
Tsipras further wrote how Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for Grexit.
This retelling of history has been met with anger along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence on the matter.
