Within his freshly published personal account, titled Ithaki, the former leader Tsipras spares no criticism while he reflects on the chaotic period during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's account, he chose the maverick academic Yanis Varoufakis to be his finance minister mainly due to the latter's international reputation along with Varoufakis's highly compelling skills as a public orator.
“He was, in reality, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests how his finance chief had his own agenda which involved advancing Varoufakis's publications and testing out his economic models on Greece rather than truly advocating its economic stability.
He wrote that the negotiations to prevent insolvency were “not just a way of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
Amid rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
On the line was both Greece's destiny and the severe austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those excoriating conditions were subjected to a public vote, a move which threw the EU into deeper crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal with creditors which proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive management.”
He further wrote how Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
