In a recently unveiled personal account, titled Ithaki, the former leader Tsipras spares no criticism as he examines the chaotic era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's account, he selected the maverick academic Yanis Varoufakis as his finance minister largely due to the latter's global profile along with his “extremely attractive” abilities as a speaker.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges how his finance chief possessed his own agenda which included advancing Varoufakis's publications as well as testing out his economic models using Greece instead of truly fighting for its economic stability.
Tsipras explained that the talks to stave off insolvency were “not just a method to secure improved terms for the country. They were a test, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself dangerously close to leaving the eurozone.
On the line was both Greece's future but also the punishing austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, a move that plunged the EU into a further existential crisis.
Although the vote was carried decisively by those against the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras also wrote that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were advocating Grexit.
This retelling of events has provoked fury along with shock in some quarters, while Varoufakis has kept a deafening silence on the matter.
