In a newly released autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits that turbulent era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, Tsipras appointed that maverick economist Yanis Varoufakis to be the finance minister primarily due to his global profile along with his very persuasive abilities as a speaker.
“In reality, he was, truthfully, more like a star rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis possessed his own motives that included promoting Varoufakis's books and testing out his theories on Greece instead of genuinely fighting for the country's economic stability.
He explained how the talks to stave off bankruptcy were “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid volatile discussions, the country came dangerously on the brink of exiting the eurozone.
On the line lay not only Greece's destiny but also those severe cutbacks demanded in return for financial aid from international creditors.
Failed Options
Efforts to secure funds from other sources, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
That summer, those excoriating conditions were put to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Although the vote was won decisively by those who opposed the cuts, Tsipras had little option but to ignore the result and negotiate a bailout package with creditors which proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts how Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
He also wrote how Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
This retelling of events has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
