In a freshly published personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits that chaotic period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, Tsipras selected that unorthodox economist Yanis Varoufakis to be the treasury head primarily due to his international reputation and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed a personal agenda which included advancing Varoufakis's books as well as experimenting with his economic models on Greece rather than truly fighting for its financial survival.
He noted how the talks to stave off insolvency became “not just a method to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake was both the country's destiny but also the severe austerity policies required in return for rescue loans by foreign lenders.
Failed Options
Efforts to secure financing from other sources, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, an action which threw the EU into further existential crisis.
Even though the vote was won decisively by voters against the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency and issuing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras further wrote that his confrontational style left him more and more alone among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has provoked anger and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
