In a freshly published memoir, called Ithaki, the ex- leader Tsipras spares no criticism as he revisits that chaotic era during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, he appointed that unorthodox economist Yanis Varoufakis as the treasury head primarily because of his global profile along with his highly compelling skills when it came to public orator.
“He was, truthfully, more like a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader claims that his finance chief had a personal agenda that involved advancing his books and experimenting with his own game theories on the nation rather than genuinely fighting for the country's financial survival.
Tsipras noted that the negotiations to avoid bankruptcy were “not only a method to secure improved terms for Greece. They were a test, an historic chance to prove the truth of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, the country came perilously close to exiting the single currency area.
On the line lay both the country's destiny but also the harsh cutbacks demanded in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, including an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action that plunged the EU into deeper existential crisis.
Although the vote was carried decisively by those against the cuts, the prime minister was forced to ignore the result and agree to a rescue deal with creditors which turned out to be tougher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also wrote how his confrontational approach made him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
This retelling of history has been met with fury and shock among certain groups, whereas the former minister has kept a deafening silence on the matter.
