Within his newly released memoir, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he reflects on that turbulent period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, he selected the maverick academic Yanis Varoufakis to be the finance minister primarily due to his worldwide fame and Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, truthfully, more like a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader alleges that Varoufakis had a personal motives which involved promoting his publications as well as experimenting with his own economic models on the nation instead of genuinely fighting for the country's financial survival.
He wrote how the negotiations to avoid bankruptcy became “not just a way of achieving a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid rollercoaster negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line lay not only Greece's future and those severe cutbacks demanded in exchange for financial aid from foreign lenders.
Failed Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, an action that plunged Europe into further crisis of identity.
Even though the referendum was won resoundingly by those against austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and distributing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts that Varoufakis had proved himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras further claimed that his aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
