Within his recently unveiled memoir, named Ithaki, the ex- premier Tsipras spares no criticism as he examines that turbulent era during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's version, Tsipras chose the unorthodox economist Yanis Varoufakis to be his treasury head largely due to the latter's global profile along with Varoufakis's highly compelling skills as a communicator.
“In reality, he was, actually, more like a star rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader suggests how his finance chief had a personal agenda which included advancing Varoufakis's books as well as testing out his own theories using the nation rather than genuinely fighting for its financial survival.
Tsipras explained how those discussions to stave off insolvency were “not only a way of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the truth of his economic theories.”
Critical Talks
Amid volatile negotiations, Greece came dangerously on the brink of leaving the eurozone.
On the line lay both the country's future but also those severe austerity policies required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action which plunged Europe into a further crisis of identity.
Even though the referendum was won resoundingly by those who opposed the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal that required complex and delicate management.”
He further claimed how Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of history has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
