Within his newly released personal account, called Ithaki, the ex- leader Tsipras does not hold back as he reflects on the chaotic period of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, he appointed the unorthodox economist Yanis Varoufakis as his treasury head mainly because of his international reputation along with Varoufakis's highly compelling skills as a speaker.
“He was, actually, more of a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis possessed a personal agenda which involved promoting his books and testing out his economic models on Greece instead of genuinely advocating the country's economic stability.
He wrote that those discussions to prevent bankruptcy were “not only a way of achieving a better deal for the country. They became a test, a monumental chance to prove the validity of his ideas.”
High-Stakes Negotiations
During volatile discussions, the country came perilously close to exiting the eurozone.
At stake lay both the country's future but also the harsh austerity measures required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, a move which plunged Europe into a deeper crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors that turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving creating a secondary currency and issuing coupons to retirees, Tsipras knew that it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how his former ally demonstrated himself “unsuitable for a deal that required complex and delicate handling.”
He further wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
