Within his recently unveiled personal account, called Ithaki, the former leader Tsipras spares no criticism while he examines the turbulent era during Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, he chose the unorthodox academic Yanis Varoufakis as his finance minister primarily because of the latter's worldwide fame along with his very persuasive abilities as a speaker.
“He was, actually, more of a star and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis had a personal motives that included promoting his publications as well as testing out his own economic models using Greece instead of truly fighting for the country's financial survival.
He explained how those negotiations to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, the country came dangerously close to leaving the single currency area.
On the line lay both Greece's destiny and the punishing austerity policies demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, an action that plunged Europe into deeper crisis of identity.
Even though the vote was carried decisively by those who opposed austerity, the prime minister had little option but to reject its outcome and agree to a bailout package from creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author concludes that Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive management.”
He further claimed that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
