Within his newly released memoir, called Ithaki, the former prime minister Tsipras does not hold back as he examines that chaotic era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he appointed that maverick economist Yanis Varoufakis to be the treasury head primarily because of his global profile along with his highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more like a star and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had his own agenda which included advancing Varoufakis's publications as well as experimenting with his game theories using Greece rather than truly advocating the country's economic stability.
He noted how those discussions to prevent insolvency were “not just a way of achieving improved terms for the country. They were a test, an historic chance to demonstrate the validity of his ideas.”
Critical Talks
During volatile discussions, the country came perilously on the brink of leaving the single currency area.
On the line was both the country's future but also the punishing austerity policies required in exchange for bailout funds from international creditors.
Failed Options
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive bailout terms were put to a public vote, an action which threw Europe into further crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, the prime minister was forced to reject its outcome and agree to a rescue deal from foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who drew media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
After the minister proposed a contingency plan involving establishing a secondary currency and distributing coupons to retirees, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, the author concludes that his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive management.”
Tsipras also claimed that Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for Grexit.
The account of history has been met with fury and shock in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
