Within his freshly published personal account, called Ithaki, the former leader Tsipras pulls no punches while he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras appointed that unorthodox academic Yanis Varoufakis as his finance minister largely due to the latter's international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis had a personal agenda that included promoting Varoufakis's books and experimenting with his economic models using the nation instead of truly fighting for its financial survival.
He explained how the discussions to stave off insolvency became “not just a way of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
During volatile negotiations, the country came perilously close to exiting the eurozone.
On the line was both Greece's destiny but also the severe austerity measures demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move which threw Europe into further crisis of identity.
Even though the referendum was won decisively by those who opposed the cuts, the prime minister was forced to ignore the result and agree to a bailout package from creditors that turned out to be more severe.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who drew publicity, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a parallel currency and distributing vouchers to pensioners, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras also wrote how his aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hardliners that were advocating Grexit.
This account of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
