In a recently unveiled memoir, named Ithaki, the ex- prime minister Tsipras does not hold back while he examines that turbulent era of Greece's debt drama.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed that maverick academic Yanis Varoufakis to be the treasury head mainly because of the latter's international reputation along with his highly compelling skills when it came to public orator.
“He was, truthfully, more like a personality rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader claims how his finance chief had a personal agenda which involved advancing Varoufakis's publications and testing out his own game theories using the nation rather than genuinely advocating its financial survival.
He noted that the discussions to avoid bankruptcy became “not just a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the truth of his theories.”
Critical Negotiations
During rollercoaster negotiations, the country found itself dangerously on the brink of exiting the eurozone.
On the line was both the country's future but also the severe cutbacks required in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the harsh conditions were subjected to a public vote, an action which threw the EU into a further existential crisis.
Although the referendum was carried resoundingly by voters against austerity, Tsipras was forced but to reject its outcome then negotiate a bailout package from foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis had proved himself to be “unfit for an agreement that required complex and delicate handling.”
Tsipras also wrote how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The account of history has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
