In a freshly published personal account, called Ithaki, the former leader Tsipras spares no criticism as he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, Tsipras appointed the maverick economist Yanis Varoufakis as the finance minister mainly because of his global profile along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a star rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader alleges that his finance chief had a personal agenda that involved advancing his publications and testing out his own economic models using the nation rather than truly advocating its economic stability.
He wrote that those talks to avoid bankruptcy became “not only a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
During volatile discussions, Greece found itself dangerously close to exiting the single currency area.
On the line was not only the country's destiny but also the severe cutbacks demanded in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were put to a public vote, an action that threw Europe into a deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister had little option to ignore the result then agree to a bailout package with creditors which proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included establishing a secondary currency and issuing coupons to retirees, Tsipras knew it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras concludes how his former ally had proved himself “unfit for an agreement demanding complex and delicate management.”
Tsipras also wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.
This account of history has provoked fury along with shock among certain groups, whereas the former minister has kept a deafening silence on the matter.
