Within his newly released personal account, named Ithaki, the ex- leader Tsipras spares no criticism as he examines the turbulent era during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's account, he chose that maverick economist Yanis Varoufakis as the finance minister largely because of his worldwide fame along with his very persuasive abilities as a communicator.
“He was, actually, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader suggests how his finance chief had a personal motives which included promoting his books as well as testing out his theories on Greece instead of truly advocating the country's financial survival.
Tsipras wrote how the negotiations to stave off bankruptcy became “not just a way to secure improved terms for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During tense negotiations, the country found itself dangerously close to exiting the eurozone.
On the line lay both Greece's future but also the severe austerity measures required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh bailout terms were put to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the referendum was carried decisively by those against the cuts, the prime minister was forced to ignore the result and agree to a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras also wrote how Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hawks who were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
