Within his newly released personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits the chaotic period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, he appointed that maverick economist Yanis Varoufakis as the treasury head mainly due to his international reputation along with his highly compelling abilities as a communicator.
“In reality, he was, in reality, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis possessed a personal motives which involved advancing his publications and experimenting with his theories on the nation instead of genuinely fighting for the country's financial survival.
He wrote how those negotiations to avoid bankruptcy were “not just a method of achieving improved terms for Greece. They became a test, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line lay both Greece's destiny but also the punishing austerity measures demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those excoriating conditions were put to a public vote, a move that plunged Europe into a further existential crisis.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, Tsipras knew it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, while helped hawks that were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.
