Within his recently unveiled personal account, called Ithaki, the ex- prime minister Tsipras does not hold back as he reflects on the turbulent era during Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis as his finance minister mainly due to his international reputation along with his highly compelling abilities as a communicator.
“In reality, he was, actually, more of a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges that Varoufakis possessed his own agenda that involved promoting his books as well as testing out his own theories using the nation instead of truly fighting for the country's economic stability.
He noted that the discussions to avoid insolvency were “not only a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the validity of his theories.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself perilously close to exiting the single currency area.
At stake was both the country's destiny and the harsh austerity measures required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were put to a popular referendum, a move which threw the EU into deeper existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a bailout package with creditors which turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further claimed that his aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of events has provoked fury and shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
