In a newly released personal account, called Ithaki, the former leader Tsipras spares no criticism while he reflects on that chaotic era during Greece's financial crisis.
A Controversial Choice
According to Tsipras's version, Tsipras chose the unorthodox academic Yanis Varoufakis as his finance minister mainly because of his international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims that his finance chief had his own motives that included advancing Varoufakis's publications as well as testing out his own game theories using the nation rather than truly advocating the country's financial survival.
He explained that those negotiations to prevent bankruptcy were “not just a way to secure improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, the country found itself perilously close to leaving the eurozone.
On the line was not only the country's destiny and those severe austerity measures demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action that threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, Tsipras had little option but to ignore the result then negotiate a bailout package with creditors which turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis demonstrated himself “unfit for a deal that required complex and delicate management.”
He further wrote that Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief among certain groups, while the former minister has kept a deafening silence on the matter.
