In a freshly published personal account, named Ithaki, the former prime minister Tsipras spares no criticism while he reflects on the chaotic period of Greece's financial crisis.
A Controversial Choice
In Tsipras's account, he appointed that unorthodox economist Yanis Varoufakis to be his finance minister mainly because of his international reputation and his highly compelling abilities when it came to communicator.
“He was, truthfully, more of a star rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests how Varoufakis possessed a personal agenda that included promoting his books and experimenting with his game theories on the nation rather than truly advocating its financial survival.
Tsipras wrote that the talks to avoid bankruptcy became “not only a way to secure improved terms for Greece. They became a test, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
During tense negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line lay both the country's future but also those harsh austerity policies required in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those punitive conditions were put to a public vote, an action that threw Europe into a further existential crisis.
Although the referendum was carried decisively by those who opposed the cuts, Tsipras had little option but to ignore the result then agree to a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy that included establishing a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
He also wrote that Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
