Within his recently unveiled personal account, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he revisits the chaotic era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis as the finance minister largely due to the latter's global profile along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis had his own motives which involved promoting Varoufakis's books as well as experimenting with his game theories using the nation rather than genuinely fighting for the country's economic stability.
Tsipras noted how the discussions to avoid bankruptcy were “not just a method to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During tense negotiations, the country came perilously on the brink of exiting the eurozone.
On the line was both Greece's destiny but also the punishing austerity measures required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were put to a public vote, an action that plunged Europe into a deeper crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
When the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, the leader knew it was game over and asked him: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
Tsipras further claimed that Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
This retelling of events has provoked fury along with shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
