Within his recently unveiled memoir, titled Ithaki, the ex- leader Tsipras spares no criticism while he reflects on the chaotic period of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's version, Tsipras appointed that unorthodox economist Yanis Varoufakis as the finance minister primarily due to the latter's global profile along with his very persuasive abilities when it came to communicator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief possessed his own motives that included advancing Varoufakis's books and testing out his game theories on Greece rather than genuinely advocating its financial survival.
Tsipras noted that the negotiations to stave off insolvency became “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny but also the harsh cutbacks required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, an action that threw the EU into deeper existential crisis.
Although the vote was carried decisively by those against the cuts, the prime minister had little option to reject its outcome then agree to a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency and issuing vouchers to pensioners, the leader knew it was game over and asked him: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras concludes how his former ally had proved himself to be “unsuitable for an agreement that required complex and delicate management.”
He further wrote that his confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
