In a recently unveiled personal account, called Ithaki, the former leader Tsipras pulls no punches while he examines that chaotic era during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, he chose that maverick academic Yanis Varoufakis as the treasury head largely due to the latter's international reputation and his highly compelling skills as a speaker.
“He was, actually, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief possessed a personal agenda that involved advancing Varoufakis's publications and experimenting with his economic models using the nation rather than truly fighting for its economic stability.
He wrote that the discussions to prevent insolvency were “not just a method of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid tense discussions, the country came dangerously close to leaving the single currency area.
At stake lay both the country's future but also those harsh austerity measures demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the punitive bailout terms were put to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal from creditors which turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also claimed that his aggressive style made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This account of events has provoked fury along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
