In a recently unveiled memoir, named Ithaki, the former leader Tsipras spares no criticism while he examines that chaotic era during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, Tsipras chose that maverick academic Yanis Varoufakis as his treasury head primarily due to his worldwide fame along with Varoufakis's highly compelling abilities as a speaker.
“He was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief had his own motives which included promoting his publications as well as testing out his own theories on Greece instead of truly advocating the country's economic stability.
He wrote how those negotiations to stave off insolvency were “not just a way to secure improved terms for Greece. They were a test, a monumental chance to prove the truth of his economic theories.”
High-Stakes Talks
During tense discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line was both Greece's future but also the harsh austerity policies demanded in return for bailout funds from foreign lenders.
Failed Options
Attempts to find funds elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the harsh bailout terms were put to a popular referendum, a move which threw the EU into further crisis of identity.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal with foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan involving creating a secondary currency and issuing coupons to retirees, the leader said he realised it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, the author concludes how his former ally had proved himself “unfit for an agreement demanding complex and delicate management.”
Tsipras also wrote how his aggressive style made him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating Grexit.
This account of events has been met with fury and stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
