In a newly released autobiography, called Ithaki, the ex- leader Tsipras does not hold back while he examines that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras appointed that maverick economist Yanis Varoufakis as his treasury head largely because of his worldwide fame along with Varoufakis's very persuasive abilities when it came to speaker.
“He was, actually, more like a personality rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader claims that his finance chief possessed a personal agenda which involved advancing Varoufakis's publications and testing out his economic models on Greece instead of genuinely advocating its economic stability.
He wrote that the discussions to stave off insolvency became “not only a method of achieving improved terms for Greece. They were a test, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
During tense negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake was both the country's destiny but also those harsh austerity policies required in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the punitive conditions were put to a public vote, a move which threw Europe into a further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, the prime minister had little option to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, Tsipras knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself “unfit for an agreement that required complex and delicate management.”
He further wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while assisted hawks who were pushing for Grexit.
This retelling of history has been met with fury and shock among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
