In a newly released personal account, named Ithaki, the former premier Tsipras does not hold back as he reflects on that turbulent era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, he selected that unorthodox economist Yanis Varoufakis as the finance minister largely because of his international reputation and his highly compelling abilities as a communicator.
“In reality, he was, actually, more like a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed a personal motives which involved advancing Varoufakis's books as well as experimenting with his own game theories on the nation instead of truly fighting for its economic stability.
Tsipras wrote how the discussions to prevent bankruptcy were “not only a way to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
On the line lay not only Greece's future and the severe austerity measures required in exchange for financial aid from international creditors.
Failed Options
Attempts to find funds from other sources, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action that plunged Europe into a further existential crisis.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras had little option but to ignore the result then agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive handling.”
He further claimed how his confrontational approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has provoked anger along with shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
