Within his newly released memoir, called Ithaki, the former premier Tsipras spares no criticism as he reflects on that chaotic period of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, Tsipras selected that maverick academic Yanis Varoufakis as his treasury head mainly due to the latter's worldwide fame and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, actually, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges how his finance chief had a personal agenda that involved promoting Varoufakis's books and testing out his theories using the nation rather than genuinely advocating the country's financial survival.
Tsipras explained that the talks to prevent bankruptcy became “not only a method of achieving a better deal for Greece. They were an experiment, a monumental chance to prove the truth of his ideas.”
High-Stakes Talks
During volatile negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake lay not only Greece's future but also the severe cutbacks demanded in return for financial aid by foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the punitive bailout terms were put to a public vote, a move which plunged Europe into further existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was the end and asked him: “Are you serious?”
Enduring Criticism
Within the book, the author asserts how his former ally demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
This retelling of events has been met with anger along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
