Within his freshly published memoir, named Ithaki, the former premier Tsipras spares no criticism as he reflects on that chaotic period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras appointed that unorthodox economist Yanis Varoufakis as the finance minister mainly because of the latter's worldwide fame and his very persuasive skills when it came to speaker.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis had a personal motives which included advancing Varoufakis's publications as well as testing out his own economic models on Greece rather than truly fighting for its economic stability.
He explained how the negotiations to stave off insolvency were “not only a way to secure improved terms for Greece. They became a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
During tense discussions, the country found itself perilously close to leaving the eurozone.
At stake was not only the country's future and those punishing austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those harsh conditions were put to a popular referendum, a move that plunged Europe into a further existential crisis.
Even though the vote was won decisively by those who opposed austerity, the prime minister was forced but to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy involving creating a secondary currency and issuing vouchers to pensioners, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras further claimed how his aggressive style left him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
The account of events has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
