In a recently unveiled memoir, titled Ithaki, the former prime minister Tsipras does not hold back as he revisits that turbulent period of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed that unorthodox economist Yanis Varoufakis to be the finance minister primarily because of the latter's international reputation along with his highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more of a star and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader alleges how his finance chief possessed his own motives which included advancing Varoufakis's books and experimenting with his own economic models on the nation rather than genuinely fighting for its financial survival.
He noted that those negotiations to prevent insolvency were “not only a way of achieving a better deal for the country. They were an experiment, an historic chance to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece found itself perilously close to exiting the eurozone.
At stake was not only the country's destiny but also those severe austerity policies required in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those punitive bailout terms were put to a public vote, an action which plunged the EU into further existential crisis.
Even though the vote was won resoundingly by voters against the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate handling.”
He also wrote that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This account 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.
