In a freshly published memoir, named Ithaki, the former prime minister Tsipras spares no criticism as he examines that turbulent period of Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he appointed that maverick academic Yanis Varoufakis to be his finance minister mainly because of his global profile along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief had his own agenda that involved promoting his books and testing out his game theories using the nation rather than truly advocating its economic stability.
Tsipras noted how the talks to avoid bankruptcy were “not only a way to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, Greece found itself perilously close to exiting the single currency area.
At stake lay not only Greece's future but also those severe austerity policies demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those punitive bailout terms were put to a popular referendum, a move which plunged Europe into a deeper existential crisis.
Even though the vote was won decisively by voters against austerity, Tsipras was forced but to ignore the result and negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
