In a recently unveiled autobiography, called Ithaki, the ex- premier Tsipras pulls no punches while he reflects on the turbulent era during Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, he appointed the maverick economist Yanis Varoufakis as the finance minister primarily because of the latter's global profile and his highly compelling skills as a public orator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader alleges how his finance chief possessed a personal motives which involved promoting his books as well as testing out his economic models on the nation instead of genuinely advocating the country's financial survival.
Tsipras explained how those negotiations to avoid insolvency became “not only a way to secure improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
Amid tense discussions, the country came perilously on the brink of leaving the single currency area.
On the line was both Greece's destiny but also the punishing austerity measures demanded in return for financial aid from international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those excoriating conditions were subjected to a public vote, a move which threw the EU into a further existential crisis.
Although the vote was won decisively by those against austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, Tsipras knew it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He further claimed how Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, while helped hardliners who were advocating Grexit.
The retelling of history has been met with anger and shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
