Within his newly released personal account, called Ithaki, the former leader Tsipras spares no criticism as he revisits that chaotic period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's recollections, he selected that maverick academic Yanis Varoufakis as the finance minister largely because of his global profile along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more of a star rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims how his finance chief had his own motives which involved promoting Varoufakis's books and experimenting with his own economic models using Greece instead of genuinely fighting for the country's financial survival.
Tsipras noted how those discussions to avoid insolvency were “not only a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself perilously close to leaving the eurozone.
At stake lay both Greece's future but also those severe austerity policies required in return for rescue loans from international creditors.
Unsuccessful Options
Attempts to find funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh bailout terms were subjected to a public vote, an action which threw Europe into further existential crisis.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
He also wrote that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
This account of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
