Within his newly released personal account, named Ithaki, the ex- premier Tsipras spares no criticism as he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's recollections, he chose the maverick economist Yanis Varoufakis to be his treasury head largely because of the latter's international reputation and his “extremely attractive” skills as a communicator.
“He was, actually, more of a star rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras claims how Varoufakis had his own agenda that included promoting his books and experimenting with his own game theories on the nation instead of genuinely fighting for the country's economic stability.
He explained how those talks to prevent insolvency became “not only a method to secure improved terms for the country. They became an experiment, an historic chance to prove the truth of his theories.”
High-Stakes Negotiations
During volatile negotiations, Greece came dangerously on the brink of exiting the single currency area.
At stake lay both Greece's destiny and the punishing austerity measures required in return for financial aid by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were put to a public vote, a move which plunged the EU into further crisis of identity.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, Tsipras knew that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He further wrote that Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
The retelling of history has provoked fury along with shock among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
