In a newly released personal account, titled Ithaki, the former leader Tsipras does not hold back while he examines that chaotic period of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's recollections, he selected that unorthodox economist Yanis Varoufakis as the finance minister primarily because of the latter's global profile and Varoufakis's highly compelling skills when it came to speaker.
“He was, actually, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges that Varoufakis possessed a personal motives which included advancing his books and experimenting with his own game theories using the nation instead of truly fighting for the country's financial survival.
He wrote how the negotiations to prevent insolvency were “not only a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
Amid tense discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was both Greece's destiny but also those harsh cutbacks required in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were subjected to a popular referendum, an action that threw Europe into a deeper existential crisis.
Even though the referendum was won resoundingly by those who opposed austerity, Tsipras had little option but to reject its outcome then negotiate a rescue deal with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency and distributing coupons to retirees, the leader knew it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal demanding intricate and delicate handling.”
He further wrote that Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
