In a freshly published autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits that chaotic period during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, Tsipras chose the maverick economist Yanis Varoufakis to be the treasury head largely due to his worldwide fame and Varoufakis's very persuasive abilities as a public orator.
“He was, in reality, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief possessed his own motives which included promoting his publications and testing out his game theories on the nation rather than truly fighting for the country's financial survival.
He noted that the discussions to avoid insolvency were “not just a method to secure a better deal for Greece. They were an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came perilously close to exiting the single currency area.
At stake lay not only Greece's destiny and the harsh austerity policies required in exchange for rescue loans by international creditors.
Failed Options
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, a move that plunged Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by those who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal from creditors which proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and issuing coupons to retirees, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
This account of history has provoked anger along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
