Within his freshly published memoir, called Ithaki, the former premier Tsipras spares no criticism as he revisits the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's recollections, he appointed the unorthodox academic Yanis Varoufakis to be the finance minister largely due to the latter's global profile and his “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis possessed his own motives that involved advancing his books as well as experimenting with his theories on the nation rather than truly advocating its financial survival.
Tsipras wrote that the discussions to stave off insolvency were “not just a way of achieving improved terms for Greece. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile negotiations, the country came perilously close to leaving the eurozone.
At stake was not only the country's destiny but also those harsh austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the harsh conditions were put to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Although the referendum was carried decisively by those against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also claimed that his confrontational style made him increasingly isolated among peers, put Greece at risk, and helped hawks that were advocating Grexit.
This retelling of history has been met with fury along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
