Within his recently unveiled personal account, called Ithaki, the ex- prime minister Tsipras does not hold back as he examines that turbulent era during Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, Tsipras selected the maverick academic Yanis Varoufakis to be the finance minister mainly due to the latter's international reputation and Varoufakis's very persuasive skills as a public orator.
“He was, in reality, more of a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed his own agenda which involved advancing his books and testing out his own game theories on the nation instead of genuinely fighting for the country's financial survival.
He noted how those negotiations to avoid insolvency became “not just a method of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid volatile negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake was both Greece's future but also the harsh austerity measures demanded in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to find funds from other sources, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating conditions were put to a popular referendum, an action which threw Europe into a further existential crisis.
Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal with creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy involving creating a secondary currency as well as issuing coupons to pensioners, the leader knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
He further claimed that his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were advocating Grexit.
The retelling of events has provoked fury and shock in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
