Within his newly released memoir, titled Ithaki, the former leader Tsipras spares no criticism as he examines that chaotic era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's account, he selected the maverick economist Yanis Varoufakis as his treasury head primarily because of his global profile along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, truthfully, more of a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis possessed his own motives which involved advancing Varoufakis's books as well as testing out his own game theories using Greece instead of genuinely advocating the country's economic stability.
Tsipras wrote how the talks to avoid insolvency became “not only a way to secure improved terms for Greece. They were a test, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During volatile discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay not only Greece's future and the harsh austerity measures demanded in exchange for rescue loans by international creditors.
Failed Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, a move which plunged the EU into a deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a bailout package with creditors that turned out to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He also claimed how his aggressive approach left him more and more alone among peers, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of history has been met with fury and shock in some quarters, while the former minister has maintained a deafening silence on the matter.
