In a recently unveiled personal account, called Ithaki, the former leader Tsipras pulls no punches as he examines that chaotic era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras chose the maverick economist Yanis Varoufakis as the finance minister primarily because of his worldwide fame along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more of a star and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests that his finance chief had his own motives which included advancing his books and experimenting with his game theories using Greece instead of truly advocating the country's financial survival.
He wrote that those talks to stave off bankruptcy were “not only a way to secure a better deal for Greece. They became a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
During tense negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
At stake was both Greece's future but also those severe austerity measures demanded in exchange for bailout funds from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the punitive bailout terms were subjected to a popular referendum, an action that threw Europe into a deeper crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, Tsipras had little option to ignore the result then negotiate a bailout package with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also claimed that his confrontational style left him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
This retelling of events has been met with anger and shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
