In a freshly published memoir, called Ithaki, the former premier Tsipras pulls no punches as he revisits the chaotic period during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed that maverick academic Yanis Varoufakis to be the finance minister mainly due to his global profile along with Varoufakis's “extremely attractive” abilities as a speaker.
“He was, actually, more of a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests how Varoufakis had his own agenda which included advancing Varoufakis's books as well as testing out his theories on the nation rather than genuinely advocating its economic stability.
Tsipras noted how those talks to prevent bankruptcy were “not just a method to secure improved terms for the country. They were a test, a monumental chance to demonstrate the validity of his ideas.”
Critical Negotiations
Amid tense discussions, the country came dangerously on the brink of leaving the eurozone.
On the line lay both Greece's future and those harsh cutbacks demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those harsh bailout terms were put to a public vote, an action that threw the EU into further crisis of identity.
Even though the referendum was carried decisively by voters against austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal with creditors that proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
He further claimed that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
The retelling of history has provoked anger and shock in some quarters, whereas the former minister has maintained a deafening silence on the matter.
