In a recently unveiled memoir, called Ithaki, the former leader Tsipras pulls no punches as he revisits the turbulent era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, he chose the maverick economist Yanis Varoufakis to be the finance minister largely because of the latter's international reputation and Varoufakis's highly compelling skills when it came to speaker.
“He was, actually, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader suggests how his finance chief possessed his own motives that involved advancing his publications as well as experimenting with his own theories on Greece instead of truly fighting for its economic stability.
He explained that those negotiations to avoid insolvency became “not just a way to secure a better deal for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line lay not only the country's destiny and those severe austerity measures demanded in return for financial aid by foreign lenders.
Failed Options
Attempts to find funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the punitive conditions were put to a popular referendum, a move that plunged the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result then agree to a bailout package from creditors that turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras also claimed how his confrontational approach left him increasingly isolated among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
This retelling of events has provoked anger and shock among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
