In a freshly published memoir, titled Ithaki, the former prime minister Tsipras spares no criticism as he examines that chaotic period during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's recollections, Tsipras appointed that unorthodox economist Yanis Varoufakis as the treasury head largely because of his worldwide fame and Varoufakis's highly compelling skills when it came to speaker.
“He was, truthfully, more of a star rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis possessed his own motives that included promoting Varoufakis's books and experimenting with his own game theories using the nation instead of genuinely fighting for its economic stability.
He noted how the negotiations to prevent insolvency were “not only a method to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid tense discussions, the country found itself perilously on the brink of exiting the single currency area.
At stake lay both the country's destiny and those punishing austerity measures demanded in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to secure financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were put to a public vote, an action that plunged the EU into a further existential crisis.
Although the referendum was won resoundingly by voters against austerity, the prime minister was forced to ignore the result and agree to a rescue deal with creditors that proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes that his former ally demonstrated himself to be “unfit for a deal demanding intricate and delicate management.”
He further wrote how his confrontational style left him more and more alone among peers, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
The account of history has provoked anger along with shock in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
