Within his freshly published memoir, named Ithaki, the former leader Tsipras does not hold back as he examines the turbulent era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he chose that unorthodox economist Yanis Varoufakis as the finance minister primarily due to his worldwide fame and his very persuasive skills as a communicator.
“He was, in reality, more like a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims that Varoufakis had his own motives which included promoting his books as well as testing out his game theories on Greece rather than genuinely fighting for its financial survival.
He noted that the negotiations to stave off bankruptcy became “not just a way to secure a better deal for the country. They became an experiment, a monumental chance to demonstrate the truth of his theories.”
Critical Negotiations
Amid tense discussions, the country came dangerously on the brink of leaving the eurozone.
On the line was not only the country's destiny but also those harsh austerity measures demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were put to a popular referendum, a move which plunged the EU into a deeper crisis of identity.
Even though the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome and agree to a rescue deal from foreign lenders which proved to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes that Varoufakis had proved himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also wrote how his aggressive approach left him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with shock among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
