In a recently unveiled personal account, titled Ithaki, the ex- premier Tsipras spares no criticism while he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, he chose the maverick academic Yanis Varoufakis to be his treasury head largely because of the latter's international reputation along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, in reality, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief had his own agenda that involved advancing Varoufakis's publications and experimenting with his theories using Greece instead of truly advocating the country's economic stability.
He noted that those negotiations to prevent bankruptcy were “not only a way to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, Greece found itself dangerously close to exiting the eurozone.
On the line lay not only Greece's destiny and the harsh cutbacks required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action that plunged the EU into further existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal demanding complex and delicate management.”
Tsipras also wrote that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
This retelling of events has been met with fury and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
