Within his recently unveiled memoir, titled Ithaki, the former leader Tsipras does not hold back while he reflects on that turbulent era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's recollections, Tsipras appointed the unorthodox economist Yanis Varoufakis as the treasury head mainly because of the latter's international reputation along with his very persuasive abilities when it came to speaker.
“In reality, he was, actually, more of a star and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis possessed a personal motives which included advancing his publications as well as experimenting with his own game theories using the nation rather than truly fighting for its economic stability.
Tsipras explained that those talks to prevent insolvency were “not only a way to secure improved terms for the country. They became a test, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
During tense discussions, the country came dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny but also the severe austerity policies demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the referendum was won decisively by voters against the cuts, the prime minister had little option to ignore the result and agree to a bailout package from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
He further claimed that his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were advocating Grexit.
The account of events has provoked anger and shock among certain groups, while Varoufakis has kept a deafening silence on the matter.
