Within his newly released autobiography, called Ithaki, the former leader Tsipras does not hold back as he reflects on that chaotic period of Greece's financial crisis.
A Controversial Choice
As per Tsipras's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis as his finance minister largely because of his worldwide fame and Varoufakis's very persuasive abilities when it came to communicator.
“He was, truthfully, more of a personality rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis possessed a personal motives that included advancing Varoufakis's books and testing out his economic models on the nation instead of genuinely advocating the country's financial survival.
He wrote that those negotiations to stave off bankruptcy were “not just a method of achieving a better deal for Greece. They became a test, an historic chance to prove the truth of his theories.”
Critical Negotiations
During rollercoaster discussions, Greece came perilously close to leaving the eurozone.
At stake lay not only the country's future and the punishing austerity policies required in exchange for rescue loans by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, an action which plunged Europe into deeper existential crisis.
Even though the vote was carried resoundingly by those against austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal from foreign lenders which turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … it seemed he relished his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, Tsipras knew it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts that his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
He further claimed how his aggressive approach left him more and more alone among peers, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The account of history has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
