Within his newly released memoir, named Ithaki, the ex- prime minister Tsipras does not hold back as he examines the chaotic period during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's account, Tsipras chose that maverick economist Yanis Varoufakis to be his finance minister mainly because of his worldwide fame and Varoufakis's “extremely attractive” abilities as a communicator.
“He was, truthfully, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis possessed a personal agenda that included advancing his publications and testing out his own economic models using Greece instead of truly fighting for its financial survival.
He noted that those talks to avoid bankruptcy were “not only a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster negotiations, the country came perilously close to leaving the single currency area.
At stake was both Greece's future and the punishing austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum and U-Turn
That summer, those harsh bailout terms were put to a public vote, a move which plunged Europe into a further crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as distributing coupons to pensioners, the leader knew that it was the end questioning him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts that his former ally demonstrated himself “unsuitable for a deal demanding complex and delicate management.”
He further claimed that his aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
This retelling of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
