In a freshly published personal account, named Ithaki, the former prime minister Tsipras pulls no punches as he examines that turbulent period during Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, he chose that maverick academic Yanis Varoufakis to be the finance minister primarily due to the latter's worldwide fame along with Varoufakis's highly compelling abilities as a public orator.
“He was, in reality, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims how his finance chief had a personal agenda which included advancing his publications as well as experimenting with his economic models using the nation rather than truly advocating its financial survival.
Tsipras noted that the talks to prevent bankruptcy were “not only a way to secure a better deal for Greece. They became a test, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself perilously on the brink of exiting the single currency area.
At stake was both the country's destiny and the severe austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, a move that threw Europe into a deeper crisis of identity.
Even though the vote was carried resoundingly by voters against austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy that included creating a secondary currency and distributing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras also wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
