In a recently unveiled personal account, named Ithaki, the former premier Tsipras spares no criticism while he reflects on that chaotic era of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's recollections, he selected the unorthodox economist Yanis Varoufakis to be the finance minister primarily because of the latter's international reputation and Varoufakis's very persuasive abilities as a communicator.
“In reality, he was, in reality, more of a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras suggests how his finance chief possessed a personal motives that involved advancing his books and testing out his game theories using the nation rather than genuinely fighting for its financial survival.
Tsipras explained how the discussions to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They were a test, an historic chance to demonstrate the validity of his theories.”
Critical Talks
Amid volatile discussions, Greece came perilously on the brink of exiting the single currency area.
On the line was not only the country's destiny and those severe austerity policies required in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to secure financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were subjected to a popular referendum, an action which threw the EU into further existential crisis.
Even though the referendum was won resoundingly by those against the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal from creditors which proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive handling.”
He further claimed that Varoufakis's confrontational style left him more and more alone among peers, endangered the country, while helped hawks who were advocating Grexit.
This account of events has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
