Within his freshly published personal account, named Ithaki, the former prime minister Tsipras spares no criticism as he revisits the turbulent era of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, he appointed that maverick academic Yanis Varoufakis to be the finance minister mainly because of his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges that his finance chief possessed a personal agenda that included promoting his publications and experimenting with his own economic models using the nation instead of genuinely advocating its economic stability.
He explained how those discussions to stave off insolvency were “not just a method to secure a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile negotiations, the country came perilously on the brink of exiting the single currency area.
At stake lay both the country's future and the severe cutbacks required in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were subjected to a public vote, an action that threw the EU into a further crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, Tsipras had little option to reject its outcome then negotiate a bailout package with creditors that proved to be more severe.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement that required complex and delicate management.”
Tsipras also claimed how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
This account of history has provoked anger and shock in some quarters, while the former minister has kept a deafening silence on the matter.
