Within his recently unveiled memoir, titled Ithaki, the former prime minister Tsipras does not hold back while he revisits that chaotic era during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, he chose that maverick academic Yanis Varoufakis to be the finance minister mainly because of the latter's global profile along with his “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader claims that his finance chief had his own agenda which included advancing his books as well as experimenting with his own economic models on Greece instead of genuinely fighting for the country's financial survival.
He noted that the talks to stave off bankruptcy were “not just a method to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Negotiations
During rollercoaster discussions, the country found itself perilously on the brink of leaving the single currency area.
On the line lay not only the country's destiny and the harsh austerity policies required in return for rescue loans by foreign lenders.
Failed Options
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a public vote, a move which plunged Europe into a further crisis of identity.
Even though the vote was won resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a bailout package from creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally had proved himself “unfit for a deal demanding complex and delicate handling.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, and helped hardliners who were advocating Grexit.
The account of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
