In a freshly published autobiography, titled Ithaki, the ex- leader Tsipras does not hold back while he examines the turbulent era of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's recollections, he selected the unorthodox economist Yanis Varoufakis to be the treasury head mainly because of his international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“He was, actually, more like a star rather than an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis possessed a personal agenda that involved advancing his publications and experimenting with his own game theories using Greece instead of truly fighting for its financial survival.
Tsipras explained how those discussions to stave off insolvency became “not just a way of achieving improved terms for Greece. They became a test, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously on the brink of exiting the single currency area.
At stake lay not only the country's destiny and those harsh cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the punitive conditions were put to a popular referendum, a move which threw Europe into further crisis of identity.
Even though the referendum was carried resoundingly by those who opposed the cuts, the prime minister was forced to ignore the result then agree to a bailout package from creditors that proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally demonstrated himself “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's confrontational approach left him more and more alone among peers, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence on the matter.
