In a recently unveiled memoir, called Ithaki, the former premier Tsipras spares no criticism while he examines that turbulent era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, Tsipras chose the unorthodox economist Yanis Varoufakis to be the treasury head primarily because of the latter's global profile and Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more of a star and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal agenda which included advancing Varoufakis's books and testing out his theories on Greece instead of truly fighting for its financial survival.
He wrote how those talks to avoid bankruptcy were “not only a method to secure improved terms for Greece. They became a test, an historic opportunity to prove the validity of his economic theories.”
High-Stakes Talks
During volatile discussions, the country came perilously on the brink of exiting the single currency area.
At stake was not only the country's future but also the harsh austerity policies required in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the harsh conditions were put to a popular referendum, an action which plunged the EU into deeper existential crisis.
Although the referendum was won decisively by those who opposed austerity, the prime minister was forced to reject its outcome and agree to a bailout package from creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as distributing vouchers to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He also claimed how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
The retelling of events has been met with anger along with stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
