Within his newly released personal account, named Ithaki, the former leader Tsipras spares no criticism while he reflects on that chaotic period of Greece's debt drama.
A Controversial Choice
According to Tsipras's version, Tsipras chose the unorthodox economist Yanis Varoufakis as the treasury head largely due to his international reputation along with Varoufakis's highly compelling skills as a speaker.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed his own agenda which involved advancing Varoufakis's books as well as testing out his theories on Greece instead of genuinely advocating the country's economic stability.
Tsipras noted how the talks to avoid insolvency became “not only a method to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came perilously close to exiting the single currency area.
On the line lay not only Greece's destiny and those punishing cutbacks demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a public vote, an action which threw the EU into a further existential crisis.
Although the vote was carried resoundingly by voters who opposed the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency and distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive management.”
Tsipras also wrote how his aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
The retelling of history has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
