Within his newly released personal account, titled Ithaki, the former prime minister Tsipras spares no criticism as he revisits that chaotic period during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's account, Tsipras selected that maverick academic Yanis Varoufakis as the finance minister primarily due to the latter's worldwide fame and his very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief had a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his theories on the nation rather than genuinely advocating the country's financial survival.
He wrote that those discussions to avoid insolvency were “not just a method of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake lay both Greece's destiny but also those harsh austerity measures required in exchange for bailout funds from international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, a move which threw the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by those against austerity, the prime minister was forced but to reject its outcome then agree to a bailout package from creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving establishing a secondary currency and distributing coupons to retirees, the leader knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes that Varoufakis had proved himself “unfit for an agreement demanding complex and delicate handling.”
He further wrote how Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, while assisted hawks that were advocating Grexit.
The retelling of events has been met with fury along with shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
