In a recently unveiled memoir, titled Ithaki, the former premier Tsipras spares no criticism while he reflects on that chaotic period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, he appointed the maverick economist Yanis Varoufakis as the finance minister mainly due to the latter's worldwide fame and his very persuasive abilities as a speaker.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis had his own agenda which included advancing his books and experimenting with his economic models using the nation instead of genuinely advocating the country's economic stability.
He explained how the talks to stave off insolvency were “not only a way to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Talks
Amid volatile negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line lay not only Greece's future but also those punishing austerity policies required in return for bailout funds from foreign lenders.
Failed Options
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were subjected to a public vote, an action that threw Europe into deeper existential crisis.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister had little option to reject its outcome then agree to a rescue deal from foreign lenders which proved to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who drew publicity, who graced the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency and issuing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself “unsuitable for a deal demanding intricate and sensitive management.”
He also claimed how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
