In a recently unveiled memoir, titled Ithaki, the ex- leader Tsipras does not hold back while he examines that chaotic period of Greece's debt drama.
A Controversial Choice
According to Tsipras's account, he appointed that maverick economist Yanis Varoufakis as his finance minister primarily because of his international reputation along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, in reality, more like a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis had his own motives which involved promoting Varoufakis's publications and testing out his economic models using Greece instead of truly fighting for its economic stability.
He wrote that those negotiations to stave off insolvency were “not only a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
Amid tense discussions, Greece came perilously close to exiting the eurozone.
On the line lay not only Greece's destiny but also those punishing austerity measures required in return for financial aid by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the excoriating conditions were put to a public vote, a move which plunged Europe into deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal with creditors which turned out to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
