Within his recently unveiled memoir, named Ithaki, the ex- premier Tsipras does not hold back while he revisits the turbulent period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, Tsipras selected that unorthodox academic Yanis Varoufakis as the finance minister mainly because of the latter's international reputation along with his “extremely attractive” skills when it came to communicator.
“He was, truthfully, more of a celebrity and less of an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had his own motives that involved promoting Varoufakis's publications as well as testing out his economic models using the nation rather than truly fighting for the country's economic stability.
Tsipras noted how the negotiations to prevent bankruptcy were “not just a way to secure improved terms for the country. They became an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Talks
During tense discussions, the country found itself dangerously close to exiting the eurozone.
At stake was not only Greece's future but also the punishing austerity measures required in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, an action that threw the EU into a deeper crisis of identity.
Although the referendum was won resoundingly by those against the cuts, the prime minister was forced to ignore the result then agree to a bailout package with creditors that turned out to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes how his former ally had proved himself “unsuitable for an agreement that required complex and delicate management.”
He further claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
This account of events has provoked anger and shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
