Within his recently unveiled personal account, titled Ithaki, the former prime minister Tsipras spares no criticism as he reflects on that chaotic period during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, Tsipras selected that maverick economist Yanis Varoufakis to be his treasury head primarily due to his international reputation along with his highly compelling abilities when it came to public orator.
“He was, actually, more of a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief had a personal agenda which included advancing his books and experimenting with his theories using the nation instead of truly advocating its economic stability.
Tsipras wrote how the negotiations to avoid insolvency became “not only a method of achieving improved terms for Greece. They became a test, a monumental chance to prove the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line was both the country's destiny and the punishing austerity measures demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the punitive bailout terms were put to a public vote, an action which threw the EU into deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome and agree to a bailout package from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras further claimed how his aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
This account of history has been met with fury along with shock in some quarters, while the former minister has so far maintained a deafening silence on the matter.
