Within his newly released personal account, called Ithaki, the ex- leader Tsipras spares no criticism while he reflects on that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, Tsipras chose the maverick academic Yanis Varoufakis as his treasury head largely due to the latter's international reputation and Varoufakis's very persuasive abilities when it came to speaker.
“He was, actually, more like a star and less of an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief had his own motives that included advancing Varoufakis's publications as well as experimenting with his own economic models using Greece instead of genuinely advocating the country's financial survival.
He noted how those negotiations to avoid bankruptcy were “not just a method of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously close to exiting the eurozone.
At stake was not only the country's future and those severe cutbacks required in return for rescue loans by international creditors.
Failed Options
Efforts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the harsh bailout terms were subjected to a public vote, an action that threw Europe into deeper crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving creating a parallel currency and distributing vouchers to retirees, the leader said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras also wrote how his confrontational style left him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
This account of history has been met with fury along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
