In a newly released autobiography, named Ithaki, the ex- prime minister Tsipras does not hold back while he reflects on that turbulent era of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, he selected that maverick academic Yanis Varoufakis as the treasury head largely due to his worldwide fame and Varoufakis's very persuasive abilities when it came to speaker.
“He was, actually, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal motives which involved promoting Varoufakis's publications and experimenting with his game theories using the nation instead of genuinely advocating its economic stability.
He wrote that the discussions to avoid insolvency became “not just a method of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the truth of his ideas.”
Critical Talks
Amid rollercoaster discussions, Greece came dangerously close to exiting the eurozone.
On the line was both Greece's destiny and the punishing austerity policies demanded in exchange for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the punitive conditions were put to a public vote, a move that threw the EU into deeper existential crisis.
Although the vote was won decisively by voters who opposed austerity, Tsipras had little option to reject its outcome then agree to a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
After the minister proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes that Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote that Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked fury and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
