Within his recently unveiled personal account, called Ithaki, the former prime minister Tsipras does not hold back while he examines that chaotic era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's recollections, he selected that maverick economist Yanis Varoufakis to be the treasury head primarily due to the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more like a star and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal motives that included promoting Varoufakis's publications and experimenting with his own theories on the nation rather than truly fighting for the country's economic stability.
He noted how those negotiations to stave off insolvency were “not just a method of achieving improved terms for Greece. They were a test, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
Amid volatile negotiations, the country found itself dangerously close to leaving the single currency area.
At stake lay not only Greece's destiny and those harsh austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, an action which plunged the EU into deeper existential crisis.
Although the referendum was carried resoundingly by voters against austerity, Tsipras had little option to ignore the result and agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of magazines globally … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, the leader said he realised that it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes how Varoufakis demonstrated himself “unfit for a deal that required complex and delicate management.”
Tsipras further claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
This retelling of events has provoked anger and stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
