Within his freshly published personal account, titled Ithaki, the former leader Tsipras spares no criticism as he examines the chaotic period of Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, Tsipras appointed that unorthodox academic Yanis Varoufakis to be his finance minister primarily because of the latter's global profile along with his very persuasive skills as a speaker.
“He was, truthfully, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader suggests how his finance chief had his own agenda which included advancing Varoufakis's books and experimenting with his own economic models using Greece instead of truly fighting for the country's economic stability.
Tsipras noted how the discussions to prevent bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, an historic opportunity to prove the truth of his economic theories.”
Critical Negotiations
During rollercoaster discussions, the country found itself perilously on the brink of leaving the single currency area.
At stake lay both the country's future and the punishing cutbacks required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those harsh conditions were put to a public vote, a move which threw the EU into deeper crisis of identity.
Even though the referendum was won decisively by voters against austerity, the prime minister was forced to reject its outcome then negotiate a rescue deal from creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a parallel currency and issuing vouchers to retirees, the leader said he realised it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
He also wrote that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
The account of events has provoked anger along with shock among certain groups, while the former minister has kept a deafening silence on the matter.
