Within his freshly published personal account, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he examines that chaotic era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras chose that maverick economist Yanis Varoufakis to be the finance minister primarily because of the latter's international reputation and Varoufakis's “extremely attractive” skills as a communicator.
“In reality, he was, in reality, more like a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal motives that included promoting Varoufakis's publications and experimenting with his own economic models using the nation instead of truly fighting for its financial survival.
Tsipras wrote that those discussions to stave off insolvency became “not only a way of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Talks
During volatile discussions, the country came perilously close to leaving the eurozone.
On the line was both Greece's destiny but also those severe cutbacks demanded in exchange for financial aid by international creditors.
Failed Alternatives
Efforts to find financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the harsh bailout terms were put to a popular referendum, an action which plunged Europe into a deeper existential crisis.
Although the referendum was won decisively by those against the cuts, Tsipras had little option but to reject its outcome then agree to a rescue deal with creditors which proved to be even harsher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and delicate management.”
Tsipras further claimed how his confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The account of history has been met with fury and shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
