Within his newly released autobiography, titled Ithaki, the former leader Tsipras does not hold back as he revisits that turbulent era during Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, Tsipras chose that unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his worldwide fame and his “extremely attractive” abilities as a public orator.
“He was, in reality, more of a celebrity rather than an economist,” recalled Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis possessed a personal agenda that included promoting his books and testing out his own theories on the nation rather than truly fighting for its financial survival.
Tsipras explained that the negotiations to avoid bankruptcy became “not just a way of achieving improved terms for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During tense negotiations, the country came dangerously on the brink of exiting the eurozone.
At stake lay not only Greece's future and the punishing cutbacks demanded in return for bailout funds from foreign lenders.
Failed Options
Attempts to find funds from other sources, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, an action which threw the EU into a deeper crisis of identity.
Even though the referendum was won decisively by those against the cuts, Tsipras had little option to reject its outcome then negotiate a bailout package with foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself “unfit for an agreement that required intricate and delicate management.”
Tsipras further wrote how Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has been met with anger along with shock in some quarters, while Varoufakis has maintained a deafening silence on the matter.
