Within his freshly published memoir, called Ithaki, the ex- prime minister Tsipras does not hold back as he reflects on the turbulent era of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, he appointed the unorthodox economist Yanis Varoufakis as the treasury head primarily due to his global profile and Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a star rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief possessed a personal motives that included promoting his books as well as testing out his theories on Greece instead of genuinely fighting for its economic stability.
Tsipras explained that those talks to stave off insolvency became “not only a method to secure a better deal for Greece. They became a test, an historic chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came perilously close to leaving the eurozone.
At stake lay both Greece's destiny and the punishing austerity measures demanded in return for financial aid by foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action which plunged Europe into a further crisis of identity.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package from creditors which proved to be tougher.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”
He further claimed that Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners that were advocating Grexit.
This retelling of history has been met with fury and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
