Within his newly released personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits the turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras selected that maverick academic Yanis Varoufakis to be his finance minister primarily because of his international reputation and his very persuasive abilities as a speaker.
“In reality, he was, in reality, more like a personality and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis had his own motives that included advancing his books as well as testing out his game theories using the nation instead of truly fighting for the country's financial survival.
Tsipras noted that those negotiations to prevent bankruptcy became “not just a method of achieving a better deal for the country. They were a test, a monumental chance to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line lay both the country's future and the harsh austerity policies demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced to ignore the result and agree to a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan that included creating a parallel currency and distributing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
The retelling of events has provoked anger and shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
