Within his newly released personal account, titled Ithaki, the ex- leader Tsipras spares no criticism as he revisits the turbulent period of Greece's debt drama.
A Controversial Appointment
In the ex-PM's account, he selected that maverick economist Yanis Varoufakis to be the treasury head mainly because of his worldwide fame and his highly compelling abilities as a public orator.
“In reality, he was, in reality, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis possessed his own agenda that involved promoting his publications and testing out his own economic models using Greece rather than truly fighting for its economic stability.
He wrote that the negotiations to stave off bankruptcy were “not just a method to secure a better deal for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, the country came perilously on the brink of leaving the single currency area.
At stake lay both Greece's future but also those punishing cutbacks demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were put to a popular referendum, an action which threw Europe into further existential crisis.
Although the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome and negotiate a bailout package from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate management.”
Tsipras further claimed that his confrontational style made him increasingly isolated among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
The account of history has provoked anger and shock in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
