In a recently unveiled personal account, called Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits the turbulent period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's account, he chose that unorthodox economist Yanis Varoufakis as his finance minister largely due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief had his own motives that involved promoting his publications as well as experimenting with his own game theories on the nation instead of truly advocating the country's economic stability.
Tsipras wrote how the talks to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They were a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line was both the country's destiny and the severe austerity measures required in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move that plunged Europe into further existential crisis.
Although the vote was won decisively by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing coupons to retirees, the leader said he realised it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating Grexit.
This account of history has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
