In a freshly published personal account, named Ithaki, the ex- leader Tsipras spares no criticism as he reflects on that chaotic era of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, Tsipras selected that maverick academic Yanis Varoufakis to be his finance minister primarily due to his worldwide fame and his very persuasive skills when it came to speaker.
“He was, in reality, more of a personality and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader alleges how his finance chief had a personal agenda which included advancing Varoufakis's books and experimenting with his game theories using the nation instead of genuinely fighting for its economic stability.
He explained that the discussions to stave off bankruptcy became “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
During tense discussions, the country came dangerously on the brink of exiting the eurozone.
On the line lay both the country's future but also those harsh cutbacks required in return for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, the punitive conditions were put to a public vote, a move that plunged Europe into further crisis of identity.
Even though the vote was carried decisively by those against austerity, the prime minister had little option but to ignore the result and negotiate a bailout package from foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
He further wrote how Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, and helped hawks that were advocating Grexit.
This retelling of events has provoked anger along with shock in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
