Within his freshly published personal account, titled Ithaki, the ex- premier Tsipras pulls no punches while he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
In Tsipras's recollections, Tsipras selected the unorthodox academic Yanis Varoufakis as the finance minister mainly due to his international reputation and his highly compelling skills as a public orator.
“In reality, he was, actually, more like a celebrity and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own agenda that included advancing Varoufakis's books as well as experimenting with his theories on the nation rather than genuinely fighting for its financial survival.
Tsipras explained how the discussions to stave off bankruptcy were “not just a method of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the validity of his theories.”
Critical Talks
During volatile negotiations, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay not only Greece's destiny but also those severe austerity policies demanded in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were subjected to a popular referendum, an action which threw Europe into a further crisis of identity.
Although the referendum was carried resoundingly by voters against the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal with creditors which proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan involving creating a secondary currency and issuing coupons to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
