Within his newly released personal account, called Ithaki, the ex- leader Tsipras pulls no punches as he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, he selected the unorthodox economist Yanis Varoufakis as his finance minister primarily because of the latter's global profile and his very persuasive skills when it came to communicator.
“In reality, he was, actually, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis possessed a personal agenda that involved advancing his books and experimenting with his theories using Greece rather than genuinely fighting for its financial survival.
He noted how the negotiations to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They were a test, an historic chance to prove the truth of his theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself dangerously on the brink of exiting the eurozone.
At stake lay both Greece's destiny but also the punishing austerity measures demanded in return for bailout funds by international creditors.
Failed Alternatives
Attempts to find financing elsewhere, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, an action which threw the EU into a further crisis of identity.
Even though the vote was carried decisively by voters against austerity, the prime minister was forced to reject its outcome and agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew that it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He also claimed that his aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The account of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
