In a recently unveiled personal account, called Ithaki, the ex- prime minister Tsipras does not hold back as he revisits that chaotic period during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, he selected the unorthodox economist Yanis Varoufakis as his finance minister largely because of the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to speaker.
“He was, actually, more of a personality rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras claims that his finance chief possessed a personal motives which included advancing his publications as well as experimenting with his own theories on the nation instead of genuinely fighting for the country's economic stability.
He wrote how the talks to avoid insolvency became “not only a method of achieving improved terms for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid volatile negotiations, the country came dangerously close to leaving the eurozone.
At stake lay not only Greece's future and the harsh austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, a move which threw Europe into deeper crisis of identity.
Even though the referendum was carried decisively by those against the cuts, the prime minister had little option but to ignore the result and agree to a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a secondary currency and issuing coupons to pensioners, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts how his former ally demonstrated himself “unfit for a deal demanding complex and sensitive management.”
He also claimed that his aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
This retelling of history has provoked anger along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
