In a freshly published memoir, titled Ithaki, the ex- premier Tsipras does not hold back as he revisits the chaotic period of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's recollections, he appointed that unorthodox economist Yanis Varoufakis as the finance minister mainly because of his global profile along with Varoufakis's highly compelling abilities when it came to public orator.
“He was, in reality, more like a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis possessed a personal motives which involved advancing his books and experimenting with his theories on Greece instead of truly fighting for its economic stability.
Tsipras wrote how the discussions to stave off insolvency were “not only a method of achieving a better deal for Greece. They became a test, an historic opportunity to prove the validity of his theories.”
High-Stakes Talks
Amid tense discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line lay both Greece's future and those severe austerity measures required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, a move which threw Europe into a deeper existential crisis.
Even though the referendum was won decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package with creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
