In a freshly published memoir, named Ithaki, the ex- leader Tsipras spares no criticism as he examines the turbulent era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras selected that maverick academic Yanis Varoufakis as the treasury head primarily due to the latter's worldwide fame and his “extremely attractive” skills when it came to speaker.
“In reality, he was, in reality, more like a personality rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras suggests that Varoufakis had his own motives which involved promoting his publications as well as testing out his economic models using the nation instead of genuinely fighting for the country's economic stability.
Tsipras noted that the negotiations to avoid bankruptcy became “not just a method of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile discussions, Greece came dangerously on the brink of exiting the single currency area.
At stake lay both Greece's future and the severe austerity measures required in return for bailout funds from international creditors.
Failed Alternatives
Efforts to find financing from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, an action which plunged Europe into deeper existential crisis.
Even though the vote was won decisively by voters who opposed the cuts, the prime minister had little option but to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy involving creating a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and delicate handling.”
He also wrote how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This account of events has been met with anger along with shock in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
