In a newly released memoir, named Ithaki, the ex- leader Tsipras spares no criticism as he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, he selected that unorthodox academic Yanis Varoufakis to be the treasury head primarily due to the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, actually, more of a star rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims that his finance chief possessed his own agenda which involved promoting Varoufakis's books as well as experimenting with his own economic models using the nation rather than genuinely advocating the country's financial survival.
He noted how the talks to prevent insolvency were “not just a way of achieving improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, Greece came dangerously on the brink of exiting the single currency area.
At stake lay both the country's future but also the harsh austerity policies required in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move which threw Europe into further crisis of identity.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included creating a secondary currency and distributing coupons to pensioners, the leader knew that it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author concludes that his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras also claimed that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
This retelling of history has provoked fury and shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.
