In a recently unveiled memoir, called Ithaki, the former prime minister Tsipras spares no criticism while he revisits the turbulent period during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's account, he appointed that unorthodox economist Yanis Varoufakis to be the finance minister primarily due to his international reputation along with his very persuasive skills as a speaker.
“In reality, he was, actually, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges that his finance chief had a personal agenda which involved promoting his publications and experimenting with his own game theories using the nation instead of genuinely fighting for its financial survival.
He wrote that those negotiations to stave off bankruptcy were “not only a way of achieving a better deal for the country. They became an experiment, an historic chance to prove the validity of his theories.”
Critical Negotiations
Amid volatile discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line lay not only the country's future and the punishing austerity policies required in return for financial aid by foreign lenders.
Failed Options
Attempts to secure financing from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum and Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action that plunged the EU into deeper existential crisis.
Although the referendum was carried resoundingly by those who opposed the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal from creditors which turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, the leader knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He also claimed that Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
The account of events has been met with fury and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
