Within his freshly published personal account, named Ithaki, the ex- premier Tsipras spares no criticism while he revisits the turbulent period during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, he appointed the maverick economist Yanis Varoufakis as the finance minister primarily because of his international reputation and his highly compelling abilities as a public orator.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief had a personal agenda that involved advancing his books as well as experimenting with his theories on Greece rather than genuinely fighting for its financial survival.
He wrote that the negotiations to stave off insolvency were “not just a way to secure a better deal for the country. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid volatile discussions, Greece found itself dangerously close to leaving the single currency area.
At stake lay both Greece's future and the severe austerity measures demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were put to a public vote, a move which plunged the EU into further existential crisis.
Even though the referendum was won decisively by voters against austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal with foreign lenders which proved to be more severe.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of magazines globally … it seemed he relished his new role.”
When the minister outlined a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, the leader knew that it was game over questioning him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis demonstrated himself to be “unfit for a deal that required complex and delicate management.”
Tsipras further wrote how Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.
This retelling of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
