Within his freshly published autobiography, called Ithaki, the ex- prime minister Tsipras does not hold back as he examines the turbulent period during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed the unorthodox academic Yanis Varoufakis to be his finance minister primarily due to his global profile and his highly compelling skills as a speaker.
“He was, in reality, more of a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief had his own motives that included promoting Varoufakis's publications as well as experimenting with his own game theories using the nation instead of truly fighting for the country's financial survival.
He explained that those negotiations to stave off bankruptcy became “not just a method to secure a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came dangerously on the brink of exiting the eurozone.
At stake lay both the country's destiny and those harsh cutbacks required in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were put to a public vote, an action which threw the EU into a deeper existential crisis.
Although the vote was won decisively by those against the cuts, Tsipras had little option but to ignore the result then agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts how his former ally demonstrated himself “unsuitable for a deal demanding complex and sensitive management.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, while helped hardliners that were pushing for Grexit.
The retelling of history has been met with anger and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
