In a recently unveiled personal account, named Ithaki, the former leader Tsipras pulls no punches while he revisits the chaotic period of Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras chose the unorthodox academic Yanis Varoufakis as his finance minister mainly because of his international reputation along with Varoufakis's highly compelling skills as a speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis had a personal motives which included promoting his publications as well as experimenting with his theories using the nation rather than genuinely advocating the country's financial survival.
He noted that those negotiations to prevent insolvency were “not just a method of achieving a better deal for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, the country came dangerously close to leaving the eurozone.
On the line was not only the country's future but also those harsh cutbacks demanded in exchange for bailout funds from international creditors.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, a move which plunged Europe into a further crisis of identity.
Even though the vote was carried decisively by those against austerity, the prime minister had little option to reject its outcome then negotiate a rescue deal from creditors that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency and issuing vouchers to retirees, the leader said he realised that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with anger and shock in some quarters, while the former minister has maintained a deafening silence on the matter.
