Within his newly released personal account, called Ithaki, the former leader Tsipras spares no criticism while he reflects on the chaotic era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras selected that maverick economist Yanis Varoufakis to be the finance minister mainly due to his global profile along with Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more like a celebrity rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed a personal motives which involved advancing Varoufakis's books and testing out his theories using Greece instead of genuinely fighting for its financial survival.
He noted how those negotiations to prevent insolvency became “not just a way to secure improved terms for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, the country came dangerously on the brink of exiting the eurozone.
On the line lay both Greece's destiny and the severe austerity policies required in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those excoriating conditions were put to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister had little option but to ignore the result and negotiate a bailout package from creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving creating a secondary currency and distributing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author asserts that Varoufakis had proved himself “unsuitable for an agreement that required intricate and delicate management.”
Tsipras further claimed how his aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
The account of events has provoked anger and shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
