Within his newly released memoir, named Ithaki, the ex- premier Tsipras spares no criticism while he revisits that chaotic period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, Tsipras selected the unorthodox academic Yanis Varoufakis as the finance minister primarily due to his worldwide fame and Varoufakis's very persuasive skills as a communicator.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief had his own motives that involved promoting Varoufakis's publications and experimenting with his own theories using the nation rather than truly fighting for the country's financial survival.
He explained how the discussions to prevent insolvency became “not just a method to secure improved terms for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
Critical Talks
Amid tense discussions, the country came perilously on the brink of leaving the eurozone.
On the line was both Greece's future but also those severe cutbacks required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were subjected to a public vote, an action which threw Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by those against the cuts, Tsipras had little option to ignore the result then agree to a bailout package with creditors which turned out to be tougher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, the leader said he realised it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes how his former ally demonstrated himself “unfit for an agreement that required complex and delicate handling.”
Tsipras further claimed how Varoufakis's confrontational approach left him more and more alone among peers, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
