Within his freshly published personal account, titled Ithaki, the former prime minister Tsipras does not hold back as he examines that chaotic era during Greece's debt drama.
An Unconventional Choice
As per Tsipras's recollections, Tsipras appointed that maverick economist Yanis Varoufakis to be his finance minister mainly due to the latter's global profile along with his highly compelling skills when it came to communicator.
“In reality, he was, actually, more of a celebrity and less of an economist,” recalled Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis possessed his own motives that involved advancing his books and testing out his own theories on the nation instead of genuinely fighting for the country's financial survival.
He wrote how those talks to avoid insolvency became “not just a method of achieving improved terms for the country. They became an experiment, an historic opportunity to prove the truth of his theories.”
High-Stakes Talks
During volatile negotiations, Greece came perilously close to exiting the single currency area.
At stake was not only the country's future but also those punishing cutbacks required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were subjected to a popular referendum, a move which plunged Europe into a deeper existential crisis.
Although the vote was carried resoundingly by those against the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author asserts that his former ally demonstrated himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras also claimed how his confrontational style made him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for Grexit.
The retelling of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
