In a recently unveiled autobiography, titled Ithaki, the former premier Tsipras spares no criticism as he reflects on the turbulent period of Greece's debt drama.
A Controversial Choice
According to the ex-PM's recollections, Tsipras appointed that maverick academic Yanis Varoufakis as his finance minister largely because of the latter's international reputation and his highly compelling abilities when it came to public orator.
“He was, in reality, more like a personality and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges that his finance chief possessed a personal motives which involved advancing Varoufakis's publications and testing out his game theories on the nation instead of truly advocating its economic stability.
Tsipras wrote that those talks to avoid insolvency were “not only a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
At stake lay not only Greece's future and the severe austerity policies required in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, an action that plunged the EU into deeper crisis of identity.
Although the referendum was carried decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome then negotiate a bailout package from creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and distributing coupons to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive handling.”
He also claimed how his aggressive style left him more and more alone among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
