In a recently unveiled memoir, named Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits that chaotic era during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's account, he chose the unorthodox academic Yanis Varoufakis to be his treasury head primarily because of the latter's international reputation along with his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more like a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras claims how Varoufakis had a personal motives that involved promoting his books as well as experimenting with his own economic models using the nation instead of genuinely fighting for the country's financial survival.
He wrote that the talks to stave off bankruptcy became “not just a method of achieving improved terms for Greece. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid tense negotiations, the country came perilously on the brink of exiting the single currency area.
On the line lay not only the country's future and the severe austerity measures demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
That summer, those harsh bailout terms were put to a popular referendum, an action that plunged the EU into a further crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras had little option but to ignore the result and negotiate a bailout package with creditors that turned out to be more severe.
Final Straw
Tsipras claimed 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 magazines the world over … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and delicate handling.”
He further claimed how his aggressive style left him increasingly isolated with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
This account of events has provoked anger and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
