Within his newly released memoir, titled Ithaki, the former premier Tsipras spares no criticism as he examines the chaotic era of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, he chose that maverick academic Yanis Varoufakis as his treasury head mainly because of his international reputation and Varoufakis's “extremely attractive” skills as a speaker.
“He was, actually, more like a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims that his finance chief had a personal agenda that involved promoting his books and testing out his game theories on the nation instead of truly fighting for the country's economic stability.
He noted how those discussions to prevent bankruptcy became “not just a way to secure improved terms for the country. They were a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came perilously close to exiting the single currency area.
On the line lay both the country's future and the harsh austerity measures demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting Greece would be equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a public vote, a move that plunged Europe into further crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who drew media attention, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as distributing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes how Varoufakis had proved himself “unfit for a deal demanding complex and delicate management.”
Tsipras further wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
