In a newly released memoir, called Ithaki, the former leader Tsipras spares no criticism as he revisits that turbulent era of Greece's economic turmoil.
A Controversial Choice
In Tsipras's account, Tsipras appointed that unorthodox academic Yanis Varoufakis to be his finance minister mainly because of his worldwide fame along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, in reality, more like a personality and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras claims how his finance chief had a personal motives that included advancing Varoufakis's publications and experimenting with his theories on Greece instead of genuinely advocating its financial survival.
He wrote that the discussions to avoid insolvency became “not only a method of achieving improved terms for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.
At stake was both the country's future and the punishing cutbacks required in return for rescue loans by international creditors.
Failed Options
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those excoriating conditions were subjected to a public vote, a move that plunged Europe into deeper crisis of identity.
Although the referendum was won decisively by those who opposed austerity, Tsipras was forced but to ignore the result and negotiate a rescue deal with creditors that turned out to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras further wrote how his aggressive style made him more and more alone with colleagues, put Greece at risk, while assisted hawks who were pushing for Grexit.
The account of history has been met with fury along with shock in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
