In a recently unveiled personal account, named Ithaki, the ex- leader Tsipras spares no criticism while he revisits that turbulent era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's account, he appointed the unorthodox academic Yanis Varoufakis as the treasury head mainly due to the latter's worldwide fame along with his “extremely attractive” skills when it came to speaker.
“In reality, he was, actually, more like a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief possessed his own motives which included advancing his books and experimenting with his economic models on Greece instead of genuinely fighting for its financial survival.
He wrote how those discussions to stave off bankruptcy were “not only a method to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay not only the country's destiny and those harsh cutbacks required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, a move that plunged the EU into deeper existential crisis.
Although the vote was won decisively by those who opposed austerity, Tsipras was forced to reject its outcome then agree to a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras also wrote that his aggressive style made him more and more alone among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This retelling of history has provoked anger along with stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
