Within his newly released memoir, named Ithaki, the former premier Tsipras spares no criticism while he revisits the turbulent era during Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, he selected the maverick academic Yanis Varoufakis as the finance minister primarily due to his international reputation and Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader claims that his finance chief possessed a personal motives which included advancing his books and experimenting with his economic models using the nation instead of truly fighting for its economic stability.
He noted that those talks to prevent bankruptcy were “not just a method to secure improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his ideas.”
Critical Negotiations
During rollercoaster discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake lay both Greece's destiny but also those punishing austerity policies required in return for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were put to a public vote, an action which threw Europe into a deeper existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal from creditors that turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy that included establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was the end and asked him: “Is this for real?”
Enduring Criticism
In the book, the author asserts how his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate management.”
He also claimed how Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, and helped hawks who were pushing for Grexit.
This retelling of events has been met with anger along with shock among certain groups, while Varoufakis has maintained a deafening silence on the matter.
