Within his recently unveiled memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, he selected the maverick economist Yanis Varoufakis to be the finance minister mainly because of the latter's international reputation and his “extremely attractive” skills when it came to communicator.
“He was, truthfully, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis had a personal motives which involved advancing his books as well as experimenting with his own economic models using Greece instead of truly fighting for the country's economic stability.
He wrote how those discussions to avoid bankruptcy became “not only a method of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid tense negotiations, Greece came perilously close to exiting the single currency area.
On the line was not only Greece's future and the severe cutbacks demanded in return for bailout funds from international creditors.
Failed Alternatives
Efforts to find funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were subjected to a popular referendum, an action which plunged the EU into a further crisis of identity.
Although the referendum was carried decisively by those against the cuts, Tsipras was forced but to reject its outcome then agree to a bailout package from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency as well as distributing vouchers to pensioners, the leader said he realised it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for a deal demanding complex and sensitive handling.”
He also wrote how Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
