Within his freshly published autobiography, called Ithaki, the ex- leader Tsipras does not hold back while he examines that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's version, he appointed the unorthodox economist Yanis Varoufakis to be the finance minister largely due to the latter's global profile and his highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis had a personal motives which included advancing Varoufakis's publications as well as experimenting with his economic models using the nation instead of truly fighting for its economic stability.
He noted how those negotiations to stave off bankruptcy were “not just a method to secure improved terms for Greece. They became a test, a monumental chance to prove the truth of his ideas.”
High-Stakes Talks
During tense discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's destiny but also those punishing cutbacks demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were subjected to a public vote, a move that threw the EU into further existential crisis.
Although the vote was carried decisively by those against the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who graced the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy involving creating a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras further wrote that Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
