Within his freshly published memoir, called Ithaki, the ex- leader Tsipras spares no criticism as he reflects on that chaotic era of Greece's debt drama.
A Controversial Choice
In Tsipras's version, Tsipras selected the unorthodox academic Yanis Varoufakis as his finance minister primarily because of the latter's worldwide fame along with his highly compelling abilities as a speaker.
“He was, in reality, more of a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader alleges how Varoufakis possessed a personal agenda that included advancing his publications and experimenting with his economic models using Greece instead of truly fighting for its economic stability.
He wrote how those talks to avoid insolvency were “not only a way to secure a better deal for the country. They became an experiment, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself perilously on the brink of leaving the single currency area.
At stake was not only the country's destiny and the harsh cutbacks required in exchange for bailout funds from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper existential crisis.
Although the vote was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal from creditors which proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive management.”
Tsipras further claimed that Varoufakis's aggressive style left him more and more alone among peers, endangered the country, and assisted hawks that were pushing for Grexit.
The retelling of history has been met with fury and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
