In a newly released memoir, called Ithaki, the former prime minister Tsipras pulls no punches as he revisits the chaotic era during Greece's financial crisis.
A Controversial Choice
In Tsipras's version, he chose that unorthodox economist Yanis Varoufakis as his finance minister largely because of the latter's global profile and his highly compelling abilities when it came to public orator.
“He was, truthfully, more of a personality rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras suggests that Varoufakis possessed a personal agenda that involved advancing Varoufakis's publications as well as testing out his own game theories on the nation rather than genuinely fighting for its economic stability.
He explained how the talks to stave off insolvency became “not only a method to secure a better deal for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
During tense discussions, the country came perilously on the brink of leaving the eurozone.
At stake lay both the country's future but also the punishing cutbacks required in return for bailout funds by international creditors.
Failed Options
Efforts to find funds elsewhere, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those harsh bailout terms were put to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result and negotiate a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing vouchers to pensioners, the leader said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He also claimed that Varoufakis's confrontational approach left him more and more alone among peers, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury along with shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
