In a recently unveiled autobiography, named Ithaki, the ex- premier Tsipras does not hold back while he revisits that chaotic era during Greece's debt drama.
A Controversial Choice
As per Tsipras's account, Tsipras selected that unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his international reputation and Varoufakis's very persuasive skills as a public orator.
“In reality, he was, actually, more of a personality and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief had his own motives which included promoting his books as well as experimenting with his economic models using Greece instead of genuinely fighting for its economic stability.
He explained how those negotiations to avoid insolvency were “not just a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny and those punishing austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, including an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, an action which threw Europe into a further crisis of identity.
Although the vote was carried decisively by those against the cuts, Tsipras had little option but to reject its outcome then agree to a bailout package from foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a parallel currency as well as distributing coupons to retirees, the leader said he realised that it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras further wrote that his confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
