Within his newly released personal account, named Ithaki, the ex- premier Tsipras spares no criticism while he revisits that chaotic period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he appointed that unorthodox academic Yanis Varoufakis to be the finance minister largely because of the latter's international reputation along with his very persuasive skills when it came to speaker.
“He was, truthfully, more like a celebrity and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis possessed a personal agenda that included promoting his books and testing out his own economic models on Greece instead of truly fighting for its economic stability.
He wrote that the discussions to avoid insolvency became “not only a method to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece came dangerously on the brink of leaving the single currency area.
At stake was both Greece's future and the punishing austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, an action which plunged the EU into a deeper crisis of identity.
Even though the referendum was carried resoundingly by voters against the cuts, Tsipras was forced to reject its outcome and agree to a bailout package from creditors which turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras knew it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive handling.”
He also claimed how his confrontational style left him more and more alone among peers, put Greece at risk, and helped hardliners that were advocating Grexit.
The retelling of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
