Within his recently unveiled memoir, titled Ithaki, the ex- premier Tsipras spares no criticism while he examines the chaotic era of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, Tsipras selected the maverick economist Yanis Varoufakis as the finance minister mainly because of his international reputation along with his very persuasive skills when it came to public orator.
“He was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras claims how his finance chief possessed a personal motives that involved advancing his publications and experimenting with his own economic models using the nation instead of genuinely fighting for the country's financial survival.
He noted how those talks to avoid bankruptcy became “not only a method to secure improved terms for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay both the country's destiny and the severe austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were put to a public vote, a move that threw the EU into deeper crisis of identity.
Even though the vote was carried decisively by voters who opposed austerity, the prime minister was forced but to ignore the result and negotiate a bailout package with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed that his confrontational style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This account of events has been met with fury and stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
