In a newly released memoir, named Ithaki, the former prime minister Tsipras spares no criticism as he examines that turbulent era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras chose the unorthodox economist Yanis Varoufakis to be his finance minister largely due to the latter's worldwide fame and Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more of a star and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis possessed a personal agenda which included advancing his books and testing out his economic models on the nation instead of truly fighting for the country's economic stability.
Tsipras noted how those negotiations to prevent bankruptcy became “not just a way of achieving improved terms for the country. They were an experiment, a monumental chance to prove the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, Greece came perilously on the brink of leaving the single currency area.
At stake lay not only Greece's future but also the punishing cutbacks demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a public vote, an action that plunged the EU into a further existential crisis.
Even though the vote was won decisively by those against austerity, the prime minister was forced to reject its outcome and agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, the leader knew it was the end and asked him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement that required complex and delicate handling.”
He also claimed how his confrontational approach made him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for Grexit.
This 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.
