Within his newly released personal account, titled Ithaki, the former prime minister Tsipras pulls no punches while he examines the chaotic era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, Tsipras appointed the maverick economist Yanis Varoufakis to be his finance minister largely because of his worldwide fame and Varoufakis's very persuasive abilities when it came to speaker.
“He was, truthfully, more of a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis possessed a personal motives which included advancing Varoufakis's books and testing out his own game theories using Greece rather than truly advocating its financial survival.
He wrote that those discussions to stave off bankruptcy became “not just a way of achieving a better deal for Greece. They became a test, a monumental chance to demonstrate the truth of his theories.”
Critical Negotiations
During rollercoaster discussions, Greece found itself perilously on the brink of leaving the single currency area.
On the line was not only the country's future and those punishing austerity measures demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the excoriating conditions were subjected to a public vote, an action which threw the EU into a further crisis of identity.
Even though the referendum was won decisively by voters who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras further claimed that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
This account of events has provoked anger along with shock in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
