Within his freshly published memoir, titled Ithaki, the former prime minister Tsipras does not hold back as he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he selected that maverick economist Yanis Varoufakis to be the finance minister largely due to the latter's global profile along with his very persuasive skills as a communicator.
“In reality, he was, truthfully, more of a star rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras claims that Varoufakis had his own motives which involved advancing Varoufakis's books as well as testing out his theories using Greece rather than truly fighting for the country's economic stability.
He wrote that the negotiations to avoid bankruptcy were “not just a method of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Negotiations
During tense discussions, Greece found itself dangerously close to exiting the eurozone.
On the line was not only the country's future and those punishing austerity policies required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, those punitive bailout terms were put to a popular referendum, an action which threw the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced to reject its outcome then negotiate a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras further wrote that his confrontational style left him more and more alone among peers, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with anger along with shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
