In a freshly published personal account, named Ithaki, the ex- leader Tsipras spares no criticism as he reflects on that chaotic period during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, Tsipras selected the unorthodox academic Yanis Varoufakis as the finance minister mainly due to the latter's international reputation and his “extremely attractive” skills as a speaker.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis possessed his own motives which involved promoting Varoufakis's books as well as testing out his theories using the nation rather than genuinely fighting for its economic stability.
He wrote how the discussions to stave off insolvency were “not just a method of achieving a better deal for the country. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
During tense negotiations, Greece found itself perilously on the brink of exiting the single currency area.
At stake was both Greece's future but also the severe austerity policies demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action that threw Europe into deeper crisis of identity.
Although the vote was won decisively by those who opposed the cuts, Tsipras was forced to ignore the result and negotiate a bailout package with creditors that turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras concludes that Varoufakis had proved himself “unfit for an agreement that required complex and delicate handling.”
Tsipras further claimed that his aggressive approach left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
