Within his newly released personal account, titled Ithaki, the former leader Tsipras does not hold back while he examines that turbulent era during Greece's debt drama.
A Controversial Choice
According to Tsipras's version, Tsipras chose that maverick academic Yanis Varoufakis to be his finance minister largely due to the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more like a star and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed his own agenda that included promoting Varoufakis's publications as well as testing out his game theories on the nation instead of truly advocating its financial survival.
Tsipras explained that those discussions to stave off bankruptcy were “not only a way to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line was not only Greece's destiny and those punishing cutbacks demanded in return for bailout funds from foreign lenders.
Failed Options
Efforts to find financing from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the punitive bailout terms were subjected to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the vote was won resoundingly by voters who opposed the cuts, Tsipras had little option but to reject its outcome and agree to a rescue deal from creditors which turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
Tsipras also claimed how his confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hawks who were pushing for Grexit.
This account of history has provoked anger along with shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
