Within his recently unveiled memoir, called Ithaki, the former leader Tsipras spares no criticism as he examines that chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, Tsipras appointed the maverick academic Yanis Varoufakis to be his finance minister primarily because of his global profile along with his very persuasive abilities as a communicator.
“In reality, he was, actually, more of a star rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras suggests how his finance chief had a personal agenda which included promoting his publications as well as experimenting with his own theories on the nation instead of genuinely advocating the country's financial survival.
He explained that those negotiations to prevent insolvency were “not only a method to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
During rollercoaster negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line was both Greece's destiny but also the punishing austerity policies required in return for rescue loans by international creditors.
Failed Options
Attempts to find financing from other sources, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those harsh conditions were put to a popular referendum, an action which plunged Europe into a further existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras had little option but to reject its outcome then agree to a rescue deal with foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
This retelling of events has provoked anger along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
