In a freshly published personal account, named Ithaki, the former prime minister Tsipras does not hold back while he revisits the chaotic era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, he appointed that maverick economist Yanis Varoufakis to be the finance minister mainly because of his worldwide fame along with his highly compelling skills as a speaker.
“In reality, he was, actually, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief had a personal agenda that involved advancing Varoufakis's publications as well as experimenting with his own theories using Greece instead of truly advocating its economic stability.
Tsipras explained how those talks to prevent insolvency became “not just a method of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
At stake was not only Greece's destiny and the punishing cutbacks required in exchange for bailout funds by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were put to a public vote, an action that threw the EU into deeper crisis of identity.
Even though the vote was carried decisively by voters who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal from creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving creating a parallel currency and issuing coupons to retirees, the leader said he realised that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for a deal that required intricate and delicate handling.”
Tsipras also wrote how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
The retelling of events has been met with anger along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
