Within his recently unveiled memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on the chaotic era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, he appointed that maverick academic Yanis Varoufakis to be the treasury head largely because of the latter's international reputation along with his “extremely attractive” skills when it came to communicator.
“He was, truthfully, more like a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief possessed a personal motives that included advancing his books and testing out his game theories using Greece rather than genuinely advocating the country's economic stability.
He wrote how the talks to stave off insolvency were “not only a method to secure a better deal for the country. They became a test, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake lay both the country's future but also the punishing austerity policies required in return for bailout funds from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were put to a public vote, an action that plunged the EU into further crisis of identity.
Even though the vote was carried resoundingly by voters against austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally had proved himself “unsuitable for a deal that required complex and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The account of events has provoked anger and stunned disbelief among certain groups, while the former minister has kept a deafening silence regarding these claims.
