In a freshly published memoir, titled Ithaki, the former premier Tsipras spares no criticism while he reflects on the turbulent era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, Tsipras appointed that maverick academic Yanis Varoufakis to be the finance minister primarily because of his global profile along with his very persuasive skills when it came to communicator.
“He was, truthfully, more like a star and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief possessed his own agenda which included promoting Varoufakis's publications as well as experimenting with his own economic models on Greece instead of truly fighting for its economic stability.
He wrote how the discussions to prevent insolvency became “not just a way to secure improved terms for the country. They were an experiment, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Talks
Amid tense discussions, the country came perilously on the brink of exiting the eurozone.
At stake lay not only the country's future and the harsh austerity measures required in return for financial aid by international creditors.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move which plunged the EU into further crisis of identity.
Although the vote was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
He further wrote how his aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with shock among certain groups, while Varoufakis has maintained a deafening silence on the matter.
