In a recently unveiled memoir, named Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent era of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras appointed that unorthodox academic Yanis Varoufakis as his treasury head primarily due to his international reputation along with his very persuasive skills as a public orator.
“He was, actually, more of a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis possessed his own motives that involved promoting Varoufakis's publications and testing out his theories using the nation rather than genuinely advocating the country's financial survival.
Tsipras explained how the negotiations to stave off bankruptcy were “not only a method to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.
On the line lay not only the country's future and those harsh cutbacks demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those harsh bailout terms were put to a public vote, a move which threw the EU into further existential crisis.
Although the vote was won decisively by those against austerity, the prime minister was forced to ignore the result and agree to a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for a deal that required complex and sensitive management.”
Tsipras further wrote that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were advocating Grexit.
The account of history has provoked anger and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.