Within his freshly published personal account, called Ithaki, the former leader Tsipras spares no criticism while he reflects on the turbulent period during Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras appointed the maverick academic Yanis Varoufakis as his finance minister primarily due to the latter's global profile and Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis possessed a personal motives which involved promoting his books and experimenting with his own game theories using Greece instead of truly advocating its economic stability.
He noted how the discussions to avoid insolvency became “not just a method of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During rollercoaster discussions, Greece came dangerously close to leaving the single currency area.
On the line was both Greece's future but also those harsh austerity measures demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to find financing elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, a move which plunged the EU into a further existential crisis.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras had little option but to ignore the result and agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy involving creating a parallel currency and distributing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also wrote that Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
This account of history has provoked anger and shock among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
