In a freshly published memoir, called Ithaki, the ex- premier Tsipras does not hold back while he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's account, he selected that maverick academic Yanis Varoufakis to be his finance minister primarily because of his international reputation along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, actually, more like a personality rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims that his finance chief had his own agenda that included promoting his books as well as testing out his own theories on the nation instead of genuinely advocating the country's economic stability.
He explained that the discussions to avoid bankruptcy became “not only a way of achieving improved terms for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, Greece came dangerously on the brink of exiting the single currency area.
At stake lay both Greece's destiny and the severe cutbacks demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to find financing from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
That summer, the harsh conditions were subjected to a popular referendum, a move that plunged the EU into further crisis of identity.
Although the vote was carried decisively by voters against the cuts, the prime minister was forced to ignore the result then agree to a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras further claimed how his aggressive style left him more and more alone with colleagues, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
The account of history has been met with anger and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
