Within his freshly published personal account, called Ithaki, the former prime minister Tsipras spares no criticism as he reflects on that chaotic era of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, he selected that unorthodox academic Yanis Varoufakis to be his finance minister largely because of the latter's global profile and his highly compelling abilities when it came to communicator.
“He was, actually, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief possessed a personal motives which involved advancing Varoufakis's books as well as testing out his theories using the nation instead of genuinely advocating the country's economic stability.
He explained how those negotiations to stave off bankruptcy were “not just a way of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his ideas.”
Critical Talks
During volatile discussions, Greece found itself perilously close to leaving the eurozone.
On the line was not only the country's future and those punishing austerity policies required in exchange for financial aid by international creditors.
Failed Options
Attempts to secure financing from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the punitive bailout terms were put to a public vote, an action that threw the EU into a further existential crisis.
Even though 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 with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, the author concludes that Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
He further wrote that his aggressive approach left him more and more alone among peers, endangered the country, and assisted hardliners that were advocating Grexit.
This retelling of events has provoked anger and shock among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
