In a recently unveiled memoir, titled Ithaki, the former premier Tsipras spares no criticism as he revisits that chaotic era during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, Tsipras selected the maverick academic Yanis Varoufakis to be his treasury head primarily because of the latter's international reputation and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a star and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges that Varoufakis had his own agenda that involved advancing Varoufakis's publications as well as testing out his own game theories on the nation rather than truly advocating the country's financial survival.
He wrote that the talks to prevent bankruptcy became “not just a method to secure a better deal for Greece. They became a test, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During tense discussions, Greece came perilously on the brink of exiting the single currency area.
On the line lay not only Greece's destiny but also the severe austerity policies demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those punitive conditions were put to a popular referendum, a move that threw the EU into further crisis of identity.
Although the referendum was carried decisively by those against the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When the minister outlined a backup strategy involving creating a secondary currency as well as distributing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis had proved himself to be “unfit for a deal demanding complex and sensitive management.”
Tsipras also wrote that his confrontational style made him increasingly isolated among peers, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
This account of history has been met with fury along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
