In a recently unveiled personal account, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he examines that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, he appointed that unorthodox economist Yanis Varoufakis as the finance minister mainly because of the latter's worldwide fame along with his very persuasive skills when it came to public orator.
“He was, truthfully, more like a star and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges how his finance chief had a personal agenda which included advancing his books and experimenting with his own theories using Greece instead of truly fighting for the country's financial survival.
Tsipras wrote how those negotiations to prevent insolvency were “not only a method of achieving improved terms for Greece. They became a test, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country came dangerously close to leaving the eurozone.
At stake was both the country's destiny but also those harsh cutbacks demanded in return for rescue loans by international creditors.
Failed Options
Attempts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a public vote, an action which threw Europe into further existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister had little option but to ignore the result and negotiate a rescue deal from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a secondary currency and issuing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author asserts that Varoufakis had proved himself to be “unsuitable for a deal demanding complex and delicate management.”
He also wrote how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were pushing for Grexit.
The retelling of history has been met with anger and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
