In a recently unveiled personal account, titled Ithaki, the ex- premier Tsipras does not hold back as he examines that chaotic era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's account, Tsipras appointed that maverick academic Yanis Varoufakis to be his finance minister mainly due to the latter's worldwide fame and Varoufakis's highly compelling skills as a public orator.
“He was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests how his finance chief possessed his own agenda which involved advancing his books as well as testing out his theories on the nation instead of truly advocating its financial survival.
He explained how the negotiations to stave off bankruptcy were “not only a way to secure a better deal for Greece. They became an experiment, an historic chance to prove the truth of his theories.”
High-Stakes Talks
During volatile negotiations, the country came dangerously close to exiting the eurozone.
At stake was not only Greece's destiny but also the harsh austerity policies required in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to find financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, a move which threw Europe into further crisis of identity.
Although the referendum was won resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result then agree to a bailout package from creditors which turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
After the minister outlined a backup strategy involving creating a parallel currency as well as issuing coupons to retirees, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, and helped hardliners who were advocating Grexit.
The account of events has provoked anger and shock in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
