In a newly released autobiography, named Ithaki, the ex- leader Tsipras does not hold back as he revisits that chaotic era of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras selected that maverick economist Yanis Varoufakis to be the finance minister primarily because of his worldwide fame along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief possessed his own agenda that included advancing his publications as well as testing out his own theories using the nation instead of truly advocating its financial survival.
He explained that those negotiations to avoid bankruptcy were “not just a method to secure improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his ideas.”
Critical Negotiations
During tense negotiations, the country came perilously on the brink of exiting the single currency area.
At stake lay both Greece's future and those harsh austerity measures required in exchange for financial aid by international creditors.
Failed Options
Efforts to find financing from other sources, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those harsh conditions were subjected to a popular referendum, an action which plunged the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by those against austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who attracted media attention, who graced the covers of publications globally … it seemed he relished his new role.”
After the minister proposed a contingency plan involving establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive management.”
He also wrote that Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This account of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.