In a newly released memoir, titled Ithaki, the former leader Tsipras pulls no punches while he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, Tsipras appointed that unorthodox economist Yanis Varoufakis as the finance minister primarily because of the latter's international reputation along with his “extremely attractive” abilities as a speaker.
“He was, truthfully, more of a star rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis possessed his own agenda which involved advancing Varoufakis's books and testing out his economic models on the nation instead of truly advocating the country's financial survival.
He wrote that the negotiations to prevent insolvency became “not only a way to secure improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid volatile negotiations, Greece came dangerously close to exiting the single currency area.
At stake was not only Greece's destiny but also the punishing austerity policies required in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to find funds elsewhere, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, an action that threw Europe into further crisis of identity.
Although the vote was won decisively by those against austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal with creditors which turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a contingency plan that included creating a parallel currency as well as issuing coupons to retirees, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras also wrote how his aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
