In a recently unveiled autobiography, titled Ithaki, the former leader Tsipras does not hold back while he revisits that turbulent period of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's version, he appointed the unorthodox academic Yanis Varoufakis as the finance minister largely because of the latter's worldwide fame and his “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests how his finance chief possessed his own motives which included advancing his books as well as testing out his theories on the nation rather than genuinely fighting for the country's financial survival.
He explained how those negotiations to stave off bankruptcy were “not just a method of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, the country found itself perilously on the brink of exiting the single currency area.
At stake was not only Greece's future but also the punishing austerity measures required in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and Reversal
That summer, those punitive bailout terms were subjected to a public vote, an action which threw the EU into further crisis of identity.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the covers of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further wrote how his aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hawks that were advocating Grexit.
This account of events has provoked anger along with shock among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
