In a freshly published memoir, called Ithaki, the former premier Tsipras spares no criticism while he examines that chaotic era of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, he appointed the unorthodox academic Yanis Varoufakis to be his finance minister largely due to the latter's global profile along with his “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more of a star rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had a personal agenda that included promoting his books and testing out his game theories using Greece instead of truly advocating its financial survival.
He explained how the talks to avoid bankruptcy were “not only a method of achieving a better deal for the country. They were a test, an historic chance to demonstrate the validity of his theories.”
High-Stakes Talks
Amid tense discussions, the country found itself dangerously close to leaving the single currency area.
On the line was not only Greece's destiny and the severe cutbacks required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those punitive conditions were subjected to a popular referendum, a move that plunged the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras had little option to reject its outcome and agree to a rescue deal from creditors that turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as issuing vouchers to pensioners, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes how his former ally had proved himself “unfit for a deal demanding intricate and delicate management.”
Tsipras also wrote how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
