Within his recently unveiled memoir, called Ithaki, the ex- leader Tsipras spares no criticism while he reflects on the turbulent era of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, he chose the maverick economist Yanis Varoufakis to be the treasury head largely due to the latter's worldwide fame along with his highly compelling abilities when it came to public orator.
“He was, truthfully, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis had a personal agenda which involved promoting Varoufakis's books as well as testing out his own economic models on Greece rather than genuinely fighting for the country's economic stability.
Tsipras wrote that the negotiations to avoid bankruptcy were “not just a way of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During tense discussions, Greece found itself dangerously close to exiting the single currency area.
At stake was both Greece's future but also those harsh austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those punitive conditions were put to a public vote, a move that plunged Europe into deeper existential crisis.
Although the referendum was won resoundingly by voters against austerity, the prime minister had little option to ignore the result then agree to a rescue deal from creditors that turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency and issuing coupons to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive handling.”
Tsipras also claimed how Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
The account of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
