In a recently unveiled personal account, titled Ithaki, the former prime minister Tsipras does not hold back as he revisits that chaotic period of Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he selected that unorthodox academic Yanis Varoufakis to be his finance minister largely because of his international reputation along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a star and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis possessed a personal agenda that involved advancing his publications as well as testing out his own game theories using the nation instead of truly advocating the country's financial survival.
He wrote that the talks to avoid bankruptcy were “not just a way to secure a better deal for Greece. They were a test, a monumental chance to prove the validity of his ideas.”
Critical Negotiations
Amid volatile discussions, Greece found itself perilously close to leaving the eurozone.
At stake was not only the country's future and the punishing cutbacks required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that threw Europe into further crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, the prime minister was forced but to ignore the result and agree to a bailout package with creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal that required complex and delicate management.”
Tsipras also wrote that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, and helped hawks who were pushing for Grexit.
This account of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
