In a newly released personal account, called Ithaki, the former leader Tsipras pulls no punches as he revisits the chaotic period of Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, Tsipras selected that maverick academic Yanis Varoufakis to be the finance minister largely because of the latter's international reputation along with his “extremely attractive” skills as a public orator.
“In reality, he was, in reality, more like a star rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras claims that his finance chief possessed a personal agenda which included advancing his publications and experimenting with his theories using the nation rather than truly advocating the country's economic stability.
Tsipras explained that the discussions to avoid bankruptcy were “not just a way to secure improved terms for the country. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
During tense negotiations, the country found itself perilously close to exiting the eurozone.
At stake lay not only the country's destiny but also those punishing austerity policies required in exchange for bailout funds by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the punitive conditions were put to a public vote, an action that threw the EU into further crisis of identity.
Even though the vote was won decisively by voters against the cuts, the prime minister had little option but to reject its outcome then negotiate a bailout package from creditors that turned out to be more severe.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who drew media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author asserts that his former ally demonstrated himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras also wrote how Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
The retelling of events has been met with fury along with shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
