In a freshly published memoir, named Ithaki, the ex- prime minister Tsipras does not hold back as he reflects on that turbulent period of Greece's debt drama.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras selected that unorthodox economist Yanis Varoufakis to be the treasury head primarily because of the latter's worldwide fame along with his highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more of a star rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief possessed a personal agenda which involved advancing his books as well as experimenting with his theories on the nation instead of genuinely advocating its economic stability.
He noted that those talks to avoid bankruptcy were “not just a method to secure improved terms for Greece. They became a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During volatile discussions, Greece came perilously close to leaving the eurozone.
On the line lay not only the country's future and those punishing austerity measures demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, a move that threw Europe into a further crisis of identity.
Even though the vote was won decisively by voters against the cuts, the prime minister had little option to reject its outcome then agree to a bailout package with creditors which proved to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how his former ally had proved himself to be “unfit for a deal that required complex and delicate management.”
Tsipras also claimed that his confrontational approach made him more and more alone with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
This account of events has provoked anger along with stunned disbelief among certain groups, while the former minister has so far kept a deafening silence on the matter.
