In a freshly published memoir, called Ithaki, the ex- leader Tsipras spares no criticism as he examines that chaotic period of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, he selected the maverick economist Yanis Varoufakis to be his finance minister largely due to his worldwide fame and Varoufakis's very persuasive abilities as a communicator.
“In reality, he was, actually, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis had a personal agenda which included advancing Varoufakis's publications and experimenting with his economic models on the nation instead of truly fighting for the country's economic stability.
Tsipras wrote that those negotiations to avoid insolvency became “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster discussions, the country came perilously on the brink of exiting the eurozone.
On the line lay not only Greece's future and those punishing austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were put to a public vote, a move that plunged Europe into a further crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to retirees, Tsipras knew that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that Varoufakis had proved himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further claimed how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
