In a recently unveiled personal account, named Ithaki, the former prime minister Tsipras spares no criticism as he revisits that chaotic period during Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, Tsipras selected the maverick economist Yanis Varoufakis to be his finance minister mainly because of his international reputation and Varoufakis's highly compelling abilities when it came to speaker.
“He was, in reality, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis had a personal motives which involved promoting Varoufakis's books as well as experimenting with his theories on Greece rather than truly fighting for the country's financial survival.
He explained that those negotiations to avoid bankruptcy were “not just a method of achieving a better deal for Greece. They were a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, the country came dangerously on the brink of exiting the eurozone.
At stake lay not only Greece's future and the punishing cutbacks required in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, an action that threw Europe into a further crisis of identity.
Even though the referendum was won decisively by voters who opposed the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package from creditors that proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts how his former ally demonstrated himself “unsuitable for a deal that required complex and delicate management.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This retelling of history has been met with anger and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
