Within his recently unveiled memoir, titled Ithaki, the former leader Tsipras spares no criticism while he reflects on that chaotic period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, he selected the unorthodox academic Yanis Varoufakis as the finance minister largely because of the latter's global profile and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis possessed a personal agenda that included advancing his publications and testing out his theories on Greece instead of truly fighting for the country's economic stability.
He wrote how the discussions to stave off insolvency became “not only a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's destiny but also the harsh austerity measures required in exchange for bailout funds from international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive conditions were subjected to a popular referendum, an action which threw the EU into further crisis of identity.
Even though the referendum was carried decisively by those against austerity, Tsipras was forced to ignore the result then agree to a rescue deal with creditors that turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts how his former ally had proved himself “unsuitable for a deal that required intricate and delicate management.”
Tsipras further claimed how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
The account of history has been met with anger and shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
