Within his newly released autobiography, called Ithaki, the former premier Tsipras spares no criticism as he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, Tsipras selected that unorthodox economist Yanis Varoufakis as his finance minister mainly because of the latter's global profile along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed a personal motives which involved promoting his books and testing out his economic models on Greece rather than truly advocating its economic stability.
He explained how those discussions to prevent insolvency became “not just a method to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During tense negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line lay both the country's destiny but also those punishing austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive bailout terms were put to a public vote, a move which threw the EU into a deeper crisis of identity.
Although the vote was won decisively by voters against austerity, the prime minister was forced to ignore the result then agree to a rescue deal from creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy that included establishing a secondary currency and issuing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He further wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
The account of history has provoked anger along with shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
