In a freshly published memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on the turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras chose that maverick economist Varoufakis as his finance minister mainly due to his worldwide fame and Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief possessed his own motives that involved advancing Varoufakis's books and testing out his theories on the nation rather than truly advocating the country's economic stability.
He explained how those negotiations to avoid insolvency were “not only a method to secure improved terms for Greece. They became an experiment, an historic chance to demonstrate the validity of his ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line was not only the country's future but also the punishing austerity measures demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action that threw Europe into further existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result then agree to a bailout package with creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was the end and asked him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself “unfit for an agreement that required complex and sensitive management.”
Tsipras also claimed that his confrontational style left him increasingly isolated among peers, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
