Within his newly released personal account, called Ithaki, the former leader Tsipras does not hold back as he revisits that chaotic period during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, Tsipras appointed that unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his worldwide fame and his highly compelling abilities as a communicator.
“In reality, he was, actually, more of a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief had his own motives which involved advancing his books as well as testing out his theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras noted how the discussions to prevent insolvency were “not just a method of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came perilously close to leaving the eurozone.
On the line was not only Greece's future and the severe austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the harsh conditions were subjected to a public vote, a move which plunged Europe into further existential crisis.
Even though the vote was won resoundingly by those against austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Criticism
In the book, the author concludes how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He further claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked anger and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
