In a recently unveiled memoir, named Ithaki, the former leader Tsipras does not hold back while he reflects on that chaotic period during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's account, he appointed the maverick academic Yanis Varoufakis as his treasury head mainly due to his worldwide fame and Varoufakis's very persuasive abilities when it came to public orator.
“He was, in reality, more like a star and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis possessed a personal motives which included promoting his publications as well as testing out his economic models using the nation instead of truly fighting for the country's economic stability.
He noted how the negotiations to avoid bankruptcy became “not just a way of achieving a better deal for Greece. They were a test, a monumental chance to prove the truth of his ideas.”
High-Stakes Talks
Amid rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
At stake was not only Greece's future and those severe austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were put to a public vote, an action which plunged Europe into further existential crisis.
Even though the vote was carried resoundingly by voters against austerity, Tsipras was forced to reject its outcome and agree to a rescue deal from creditors which turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
The retelling of events has provoked fury and shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
