In a recently unveiled memoir, called Ithaki, the former leader Tsipras spares no criticism while he revisits that turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, he chose the maverick academic Yanis Varoufakis to be the finance minister primarily because of his international reputation along with his “extremely attractive” abilities as a public orator.
“He was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief possessed a personal motives that involved advancing his publications as well as experimenting with his economic models on the nation instead of genuinely advocating its financial survival.
He wrote that those talks to prevent bankruptcy were “not only a method of achieving improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of his economic theories.”
Critical Negotiations
During tense negotiations, the country found itself perilously on the brink of leaving the single currency area.
On the line lay both Greece's future and the punishing cutbacks required in exchange for bailout funds from international creditors.
Unsuccessful Options
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those harsh conditions were put to a popular referendum, a move which plunged the EU into deeper crisis of identity.
Even though the referendum was carried resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package with foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Lasting Criticism
Within the book, the author asserts that his former ally had proved himself “unsuitable for an agreement demanding complex and delicate management.”
Tsipras further wrote how his aggressive approach left him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
The account of events has been met with anger and shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
