In a recently unveiled personal account, called Ithaki, the ex- prime minister Tsipras spares no criticism while he examines the turbulent era during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's recollections, he appointed that unorthodox academic Yanis Varoufakis as his finance minister primarily because of the latter's global profile and his highly compelling skills when it came to speaker.
“He was, truthfully, more like a personality and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief had his own agenda which included advancing Varoufakis's publications and experimenting with his own theories using Greece rather than genuinely fighting for its economic stability.
He explained how the discussions to avoid bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, Greece found itself perilously close to leaving the single currency area.
On the line lay both the country's destiny but also those harsh austerity policies demanded in return for bailout funds from foreign lenders.
Failed Options
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, a move that threw Europe into a further existential crisis.
Although the vote was won decisively by those against austerity, the prime minister had little option but to reject its outcome and agree to a bailout package from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving creating a secondary currency and distributing vouchers to pensioners, the leader said he realised it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate management.”
He further claimed how his confrontational approach made him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
This account of events has provoked anger and shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
