Within his freshly published personal account, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he examines that turbulent period during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's account, Tsipras appointed the unorthodox academic Yanis Varoufakis as the finance minister mainly due to his global profile along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, actually, more of a celebrity and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had a personal motives that included promoting his publications as well as testing out his economic models using the nation instead of genuinely fighting for the country's economic stability.
Tsipras explained that the negotiations to prevent insolvency were “not only a way to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
Amid volatile discussions, Greece found itself perilously on the brink of exiting the single currency area.
At stake lay both Greece's destiny but also the harsh austerity policies demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were put to a public vote, a move which plunged Europe into a further crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a bailout package with creditors which proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, Tsipras knew that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
He further claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while helped hardliners that were pushing for Grexit.
This account of history has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
