In a freshly published memoir, called Ithaki, the former prime minister Tsipras does not hold back as he examines that chaotic era during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he appointed the unorthodox academic Yanis Varoufakis as the finance minister largely due to the latter's international reputation along with his “extremely attractive” abilities as a communicator.
“He was, truthfully, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis possessed a personal agenda that included promoting Varoufakis's books as well as testing out his game theories on the nation instead of genuinely fighting for the country's economic stability.
He wrote that those negotiations to stave off insolvency were “not only a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid tense negotiations, Greece found itself perilously close to leaving the eurozone.
At stake lay not only Greece's future and those punishing austerity measures required in return for bailout funds from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were put to a public vote, an action which threw the EU into a further existential crisis.
Although the vote was won resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes how his former ally had proved himself “unsuitable for a deal demanding intricate and delicate management.”
Tsipras further claimed how Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
