In a freshly published memoir, titled Ithaki, the former leader Tsipras spares no criticism while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, Tsipras chose the maverick economist Yanis Varoufakis to be the treasury head mainly because of his global profile and Varoufakis's “extremely attractive” abilities as a public orator.
“He was, actually, more of a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief had a personal motives which involved advancing his publications as well as testing out his economic models on the nation rather than truly fighting for the country's financial survival.
Tsipras wrote that the discussions to avoid bankruptcy became “not just a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously close to exiting the eurozone.
At stake was not only the country's destiny but also the punishing austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, those excoriating bailout terms were put to a public vote, an action that plunged Europe into further crisis of identity.
Although the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result and agree to a bailout package with foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also wrote how his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
The retelling of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
