In a freshly published personal account, titled Ithaki, the ex- leader Tsipras spares no criticism as he revisits the turbulent period during Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, he selected the maverick economist Yanis Varoufakis to be his finance minister mainly because of the latter's worldwide fame and Varoufakis's highly compelling skills as a public orator.
“In reality, he was, actually, more like a star and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader suggests that his finance chief possessed his own agenda that included promoting Varoufakis's books and experimenting with his own economic models on Greece instead of genuinely fighting for its financial survival.
Tsipras wrote that the negotiations to stave off insolvency were “not just a method to secure a better deal for Greece. They became an experiment, an historic chance to prove the validity of his economic theories.”
Critical Talks
During rollercoaster discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line was not only Greece's destiny and those severe cutbacks required in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the punitive conditions were put to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, the leader said he realised it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself “unfit for a deal that required intricate and delicate handling.”
He further claimed that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and helped hawks who were pushing for Grexit.
This retelling of events has been met with anger and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
