Within his freshly published autobiography, named Ithaki, the former prime minister Tsipras spares no criticism while he revisits that turbulent period of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, he selected that unorthodox economist Yanis Varoufakis to be his treasury head largely due to his international reputation and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a star and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader alleges that his finance chief had his own agenda which included advancing his books and testing out his economic models on the nation rather than truly advocating its economic stability.
Tsipras explained that those discussions to avoid bankruptcy became “not just a way to secure improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of his ideas.”
Critical Negotiations
Amid rollercoaster negotiations, Greece came perilously close to exiting the single currency area.
At stake lay not only the country's destiny and those punishing austerity measures required in return for financial aid from international creditors.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the punitive bailout terms were put to a public vote, an action that plunged Europe into further crisis of identity.
Even though the vote was won resoundingly by those against austerity, the prime minister had little option but to ignore the result then agree to a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author asserts how his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive handling.”
He further wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were pushing for Grexit.
The retelling of history has been met with anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.