In a freshly published memoir, called Ithaki, the ex- premier Tsipras spares no criticism as he revisits that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, he chose that maverick academic Yanis Varoufakis to be his treasury head primarily due to the latter's global profile and his highly compelling abilities as a public orator.
“In reality, he was, in reality, more of a star rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had his own motives that included advancing his books as well as testing out his theories on the nation instead of truly fighting for its economic stability.
Tsipras wrote that the negotiations to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself perilously close to leaving the eurozone.
On the line lay both the country's future and the harsh austerity measures demanded in return for rescue loans by international creditors.
Failed Options
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating conditions were subjected to a public vote, a move which threw Europe into deeper existential crisis.
Although the vote was carried decisively by those against austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package from foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the book, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and delicate management.”
He also wrote that Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This account of history has been met with anger along with shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
