Within his recently unveiled personal account, named Ithaki, the former leader Tsipras does not hold back as he reflects on that chaotic period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, he chose that unorthodox academic Yanis Varoufakis to be his treasury head mainly because of his worldwide fame along with his “extremely attractive” skills when it came to public orator.
“He was, truthfully, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed a personal motives that included advancing his books as well as testing out his game theories on the nation rather than truly advocating its financial survival.
Tsipras explained that the talks to prevent insolvency were “not just a way to secure improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece found itself perilously close to exiting the single currency area.
On the line lay both Greece's destiny and the severe cutbacks demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move which threw the EU into a further crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal with creditors that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a parallel currency and issuing coupons to retirees, the leader knew it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself “unsuitable for a deal demanding complex and delicate management.”
He further claimed that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
