In a recently unveiled personal account, called Ithaki, the former prime minister Tsipras spares no criticism while he examines the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's version, Tsipras appointed that maverick economist Yanis Varoufakis to be the finance minister mainly due to his worldwide fame along with his very persuasive skills as a communicator.
“He was, truthfully, more of a star and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief possessed his own motives that included advancing Varoufakis's publications and testing out his own game theories using the nation rather than truly fighting for its economic stability.
He explained that those talks to avoid insolvency became “not just a method to secure a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake lay not only Greece's future but also the severe austerity measures demanded in exchange for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, including an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the excoriating bailout terms were subjected to a popular referendum, a move that threw Europe into a deeper crisis of identity.
Even though the vote was carried decisively by voters against the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency and issuing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
He further wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
The retelling of events has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
