In a recently unveiled personal account, named Ithaki, the former premier Tsipras spares no criticism while he revisits that chaotic era of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, Tsipras chose that unorthodox economist Yanis Varoufakis as his treasury head largely due to his global profile along with his very persuasive skills when it came to public orator.
“He was, truthfully, more like a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras suggests that Varoufakis had his own agenda which involved promoting his publications as well as experimenting with his game theories using the nation instead of truly fighting for the country's economic stability.
He wrote that the negotiations to stave off insolvency became “not just a method to secure improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During tense negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line lay both the country's future and those harsh cutbacks required in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to Russia to buy Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras was forced but to ignore the result and agree to a rescue deal from foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a parallel currency and distributing coupons to retirees, the leader said he realised it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras also wrote how Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
The retelling of history has provoked anger along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
