Within his recently unveiled personal account, titled Ithaki, the ex- premier Tsipras spares no criticism as he revisits that turbulent era during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, Tsipras selected the unorthodox academic Yanis Varoufakis as his finance minister primarily due to the latter's global profile along with his very persuasive skills as a communicator.
“He was, truthfully, more of a star rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims that his finance chief had his own motives that involved promoting Varoufakis's publications and testing out his game theories on the nation rather than truly advocating its financial survival.
Tsipras explained how the negotiations to prevent bankruptcy became “not just a method of achieving a better deal for the country. They were a test, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece came dangerously close to leaving the eurozone.
On the line was both the country's future and those harsh cutbacks required in exchange for financial aid from international creditors.
Failed Options
Attempts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were put to a public vote, an action which plunged Europe into a further existential crisis.
Even though the vote was won resoundingly by those against austerity, Tsipras was forced to ignore the result then negotiate a bailout package with foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
Tsipras also claimed that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for Grexit.
This retelling of history has been met with anger and shock among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
