Within his newly released memoir, named Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits the turbulent period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis to be his finance minister mainly due to his global profile along with his highly compelling skills as a communicator.
“He was, actually, more of a star and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed his own motives that involved promoting his publications and testing out his game theories using Greece rather than truly fighting for the country's financial survival.
He noted how the negotiations to avoid bankruptcy became “not just a way to secure improved terms for Greece. They were an experiment, an historic chance to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid tense negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line was not only the country's destiny and those severe austerity measures required in return for financial aid from international creditors.
Failed Options
Efforts to find financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and Reversal
In July 2015, the punitive conditions were put to a public vote, a move that plunged Europe into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras was forced to ignore the result then agree to a rescue deal from creditors that turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself “unsuitable for a deal demanding intricate and delicate management.”
Tsipras also wrote that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
This account of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
