In a recently unveiled memoir, called Ithaki, the former prime minister Tsipras pulls no punches as he reflects on that turbulent period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, he appointed the unorthodox economist Yanis Varoufakis to be the treasury head primarily because of his international reputation along with his “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more of a star and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis possessed a personal motives that included promoting Varoufakis's publications as well as experimenting with his theories using the nation rather than truly fighting for its financial survival.
Tsipras wrote how those discussions to stave off bankruptcy became “not only a method of achieving improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid tense negotiations, Greece came dangerously close to leaving the single currency area.
At stake was both the country's future but also those severe austerity policies required in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those harsh bailout terms were put to a public vote, an action which threw Europe into a deeper existential crisis.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, Tsipras knew it was game over questioning him: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras asserts that his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
He further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This account of history has been met with anger and shock among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
