Within his newly released personal account, called Ithaki, the former prime minister Tsipras does not hold back as he revisits that chaotic period during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's account, he selected the maverick academic Yanis Varoufakis to be the treasury head mainly because of the latter's global profile and his “extremely attractive” abilities when it came to communicator.
“He was, actually, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief had a personal motives which included advancing his books and experimenting with his own game theories on the nation instead of truly advocating its economic stability.
Tsipras noted how those talks to avoid bankruptcy were “not just a method to secure a better deal for Greece. They were a test, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid volatile negotiations, the country found itself perilously close to leaving the single currency area.
At stake was not only the country's future and those punishing austerity policies required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, an action which plunged the EU into deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal from foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing coupons to retirees, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the book, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and delicate management.”
He also wrote that his aggressive style made him more and more alone among peers, endangered the country, and helped hardliners that were pushing for Grexit.
This account of events has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
