In a freshly published autobiography, called Ithaki, the ex- premier Tsipras pulls no punches while he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, he selected that maverick academic Yanis Varoufakis as his treasury head mainly due to his international reputation and his very persuasive abilities as a public orator.
“He was, actually, more like a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader alleges that his finance chief had a personal agenda that included advancing his books as well as testing out his game theories using the nation rather than genuinely fighting for its economic stability.
He explained how the negotiations to prevent insolvency were “not just a method of achieving a better deal for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
During rollercoaster discussions, the country found itself perilously close to exiting the single currency area.
On the line lay not only the country's destiny and those severe cutbacks required in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive conditions were put to a public vote, a move which plunged the EU into further crisis of identity.
Even though the vote was carried decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result then negotiate a rescue deal with creditors that proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan that included creating a secondary currency and distributing coupons to retirees, the leader knew that it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate handling.”
He further wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
