In a recently unveiled autobiography, named Ithaki, the ex- leader Tsipras spares no criticism as he revisits the turbulent era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's account, he appointed that unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his international reputation along with his very persuasive abilities when it came to speaker.
“In reality, he was, in reality, more like a star rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief possessed his own motives which included advancing his publications as well as experimenting with his own economic models using the nation rather than truly advocating its financial survival.
He wrote how those talks to prevent insolvency were “not only a method of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself perilously on the brink of exiting the eurozone.
On the line was not only the country's future and the punishing austerity policies required in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were subjected to a popular referendum, a move which threw Europe into a further existential crisis.
Although the vote was carried resoundingly by voters against austerity, the prime minister had little option but to ignore the result then negotiate a rescue deal with creditors which turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
He further wrote how his aggressive style left him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The retelling of history has been met with anger and shock among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
