Within his recently unveiled memoir, called Ithaki, the former leader Tsipras spares no criticism while he revisits that turbulent era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, he chose the unorthodox academic Yanis Varoufakis as the finance minister primarily because of his worldwide fame and his “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis had a personal agenda which involved advancing Varoufakis's publications and testing out his own game theories on the nation instead of genuinely advocating its financial survival.
Tsipras noted that those discussions to avoid bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny and those harsh austerity measures demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those harsh bailout terms were subjected to a popular referendum, a move that threw the EU into deeper existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, the prime minister was forced to reject its outcome then agree to a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was game over questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also wrote how Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
The account of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
