Within his recently unveiled autobiography, called Ithaki, the former leader Tsipras does not hold back while he reflects on that chaotic era during Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, Tsipras chose the unorthodox academic Yanis Varoufakis as his finance minister mainly due to the latter's worldwide fame along with Varoufakis's highly compelling abilities as a speaker.
“He was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims that his finance chief had a personal agenda that included advancing Varoufakis's books and experimenting with his own economic models on Greece instead of truly fighting for the country's economic stability.
He noted that those negotiations to stave off bankruptcy became “not only a way of achieving improved terms for the country. They were a test, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
During volatile negotiations, the country came perilously close to leaving the single currency area.
On the line lay both the country's future and those punishing austerity policies demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a public vote, an action which plunged Europe into a deeper existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, the prime minister was forced to ignore the result then negotiate a bailout package from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency as well as issuing coupons to pensioners, the leader knew that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras concludes that Varoufakis had proved himself “unfit for a deal that required intricate and delicate management.”
He further claimed that his confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.
The retelling of events has provoked fury and shock in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
