In a newly released personal account, titled Ithaki, the former premier Tsipras pulls no punches as he revisits the turbulent period during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed that unorthodox economist Yanis Varoufakis to be the finance minister largely because of the latter's worldwide fame along with his highly compelling abilities as a speaker.
“He was, truthfully, more of a star and less of an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed a personal motives that involved promoting Varoufakis's books as well as testing out his own economic models using the nation rather than truly advocating its economic stability.
He noted how those talks to stave off insolvency became “not only a way to secure improved terms for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came perilously close to leaving the single currency area.
On the line was both Greece's destiny and the harsh austerity measures required in return for bailout funds from international creditors.
Failed Options
Attempts to find funds from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a public vote, a move that plunged Europe into further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result then agree to a rescue deal from creditors which proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the covers of publications globally … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a secondary currency and distributing vouchers to retirees, the leader knew that it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts that his former ally had proved himself “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for Grexit.
This account of events has been met with fury and stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
