In a recently unveiled autobiography, called Ithaki, the ex- leader Tsipras pulls no punches as he reflects on that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis as the finance minister mainly because of the latter's international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“He was, truthfully, more like a celebrity and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed a personal agenda which involved advancing his books and testing out his game theories using the nation rather than truly advocating its financial survival.
He wrote how the discussions to stave off insolvency were “not only a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself dangerously close to leaving the single currency area.
On the line lay both Greece's destiny but also the harsh austerity measures demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the punitive conditions were subjected to a public vote, an action which plunged Europe into a further existential crisis.
Although the referendum was carried decisively by those against austerity, Tsipras had little option to reject its outcome and negotiate a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself “unfit for an agreement that required complex and delicate management.”
He also wrote how Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
This account of history has provoked anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
