Within his freshly published personal account, titled Ithaki, the former prime minister Tsipras spares no criticism while he revisits that turbulent period during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, he selected that unorthodox academic Yanis Varoufakis to be the finance minister largely due to the latter's international reputation along with Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more of a star rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis had a personal agenda that involved advancing his publications and experimenting with his theories on the nation rather than truly advocating its economic stability.
Tsipras explained how those negotiations to prevent insolvency became “not only a way to secure a better deal for Greece. They became a test, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
During volatile negotiations, the country found itself dangerously close to leaving the single currency area.
At stake was not only the country's destiny and the severe cutbacks required in exchange for rescue loans from international creditors.
Failed Options
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action which threw Europe into deeper crisis of identity.
Although the vote was carried resoundingly by those who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes how his former ally demonstrated himself “unsuitable for a deal that required complex and delicate management.”
He also claimed that Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and helped hardliners that were advocating Grexit.
The account of history has provoked anger and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
