In a newly released personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism while he examines the chaotic era during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's account, he chose the maverick economist Yanis Varoufakis to be the finance minister mainly because of the latter's international reputation along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, truthfully, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed a personal motives that included advancing his books and testing out his theories on the nation instead of truly advocating the country's economic stability.
He wrote that those talks to prevent insolvency were “not only a method of achieving a better deal for Greece. They became an experiment, an historic chance to prove the truth of his ideas.”
Critical Talks
Amid tense discussions, Greece came perilously close to exiting the eurozone.
At stake was not only Greece's future but also the severe cutbacks demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, a move that threw Europe into further crisis of identity.
Although the referendum was won resoundingly by voters against austerity, the prime minister was forced to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be tougher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency and issuing vouchers to pensioners, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for a deal that required complex and delicate handling.”
He also wrote that his confrontational style left him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating Grexit.
The retelling of events has been met with anger along with shock in some quarters, whereas the former minister has maintained a deafening silence on the matter.
