Within his newly released memoir, called Ithaki, the former prime minister Tsipras spares no criticism as he revisits the chaotic period during Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis as the finance minister mainly because of the latter's global profile along with Varoufakis's very persuasive skills when it came to communicator.
“He was, actually, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims how Varoufakis possessed a personal agenda which included promoting Varoufakis's books as well as testing out his economic models using Greece instead of genuinely advocating the country's economic stability.
He explained that the discussions to prevent insolvency became “not only a way of achieving a better deal for the country. They became an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile negotiations, the country found itself perilously close to exiting the eurozone.
At stake was both Greece's future but also those harsh austerity policies required in exchange for bailout funds from international creditors.
Unsuccessful Options
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were subjected to a popular referendum, a move which plunged the EU into a further existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a bailout package from foreign lenders which proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author asserts how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He also claimed that his confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
