Within his newly released memoir, called Ithaki, the former prime minister Tsipras spares no criticism while he revisits the chaotic era of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras selected that maverick academic Yanis Varoufakis to be his finance minister mainly due to the latter's international reputation and his very persuasive skills as a speaker.
“In reality, he was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief possessed a personal motives which involved advancing Varoufakis's publications and experimenting with his own economic models using the nation instead of genuinely fighting for its financial survival.
He explained how those discussions to prevent insolvency became “not only a way to secure a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, the country came dangerously on the brink of leaving the single currency area.
At stake lay not only the country's future but also those harsh cutbacks required in exchange for financial aid by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a public vote, a move that plunged the EU into a deeper existential crisis.
Although the referendum was carried decisively by those against the cuts, Tsipras had little option to reject its outcome then agree to a bailout package with foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew that it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive handling.”
Tsipras further claimed that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
This account of events has been met with fury along with shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
