In a newly released memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism as he examines that chaotic period of Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, Tsipras chose that maverick economist Yanis Varoufakis as his finance minister primarily due to the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, actually, more like a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis had a personal agenda that included advancing Varoufakis's books and experimenting with his own theories on the nation instead of truly fighting for its economic stability.
Tsipras wrote how the negotiations to stave off bankruptcy became “not only a method of achieving improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was not only Greece's destiny and those punishing austerity policies demanded in exchange for financial aid by international creditors.
Failed Options
Attempts to find financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, a move which threw Europe into a further existential crisis.
Although the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
After the minister outlined a contingency plan involving creating a parallel currency and distributing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He further wrote how Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating Grexit.
The retelling of history has provoked fury and shock in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
