Within his newly released personal account, named Ithaki, the former premier Tsipras does not hold back as he revisits that turbulent period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, he appointed the maverick academic Yanis Varoufakis as his finance minister primarily due to the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis possessed a personal motives which involved advancing his publications and testing out his game theories using the nation rather than truly advocating its economic stability.
He noted that those negotiations to prevent bankruptcy were “not only a method of achieving improved terms for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid tense discussions, the country found itself dangerously close to leaving the eurozone.
On the line lay both Greece's destiny and the severe cutbacks demanded in return for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating conditions were put to a public vote, a move which plunged the EU into a further crisis of identity.
Even though the referendum was carried decisively by those against the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy that included creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts how Varoufakis had proved himself “unfit for a deal that required complex and sensitive management.”
He also wrote how his aggressive style left him increasingly isolated among peers, endangered the country, while helped hardliners who were pushing for Grexit.
This retelling of events has provoked anger and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.
