In a newly released personal account, named Ithaki, the former leader Tsipras spares no criticism as he reflects on that chaotic period of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, he chose that maverick academic Yanis Varoufakis to be the finance minister largely due to his worldwide fame and Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, actually, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed his own agenda which included promoting his publications and experimenting with his game theories using Greece instead of truly fighting for the country's financial survival.
He noted how the talks to stave off bankruptcy were “not just a way to secure improved terms for the country. They were an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Talks
Amid volatile negotiations, Greece found itself perilously close to exiting the single currency area.
At stake lay not only Greece's destiny and the harsh austerity policies demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, an action which threw the EU into a deeper existential crisis.
Although the referendum was won resoundingly by those who opposed austerity, the prime minister was forced to reject its outcome and agree to a rescue deal with creditors which proved to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a parallel currency and issuing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts that his former ally had proved himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further wrote how Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, and helped hawks that were pushing for Grexit.
The account of history has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
