Within his newly released memoir, called Ithaki, the former prime minister Tsipras spares no criticism while he reflects on that turbulent era during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he appointed that maverick economist Yanis Varoufakis as his finance minister mainly because of the latter's global profile and his highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader suggests that his finance chief possessed his own agenda which involved promoting his publications as well as testing out his game theories on Greece rather than genuinely fighting for its financial survival.
He wrote that those talks to avoid insolvency were “not just a way to secure improved terms for Greece. They were a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay both Greece's destiny but also those severe austerity policies demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, a move which threw Europe into deeper existential crisis.
Although the vote was carried decisively by those against the cuts, Tsipras had little option to reject its outcome and agree to a bailout package with creditors that turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy that included establishing a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras further claimed how his aggressive style left him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
This account of history has been met with anger and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
