In a freshly published personal account, called Ithaki, the ex- premier Tsipras spares no criticism while he examines the chaotic period of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, he selected that unorthodox economist Yanis Varoufakis as his treasury head mainly due to the latter's global profile and Varoufakis's “extremely attractive” skills as a public orator.
“He was, actually, more of a personality rather than an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis had a personal agenda that involved promoting Varoufakis's publications and testing out his theories on Greece instead of truly fighting for its financial survival.
He wrote how those discussions to prevent bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Talks
Amid tense discussions, the country came dangerously close to exiting the eurozone.
At stake was not only the country's destiny and the harsh cutbacks required in return for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those harsh conditions were subjected to a popular referendum, an action which plunged Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself “unfit for a deal demanding complex and sensitive handling.”
He also wrote how Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
The retelling of events has been met with anger and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.
