Within his newly released memoir, called Ithaki, the ex- leader Tsipras spares no criticism while he revisits the chaotic period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, he chose that maverick economist Yanis Varoufakis to be his finance minister primarily due to the latter's global profile along with Varoufakis's very persuasive skills as a speaker.
“He was, truthfully, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis possessed a personal agenda that included promoting his books as well as testing out his economic models on the nation rather than genuinely advocating the country's financial survival.
Tsipras noted that the talks to prevent insolvency were “not only a method of achieving a better deal for the country. They became an experiment, an historic chance to prove the truth of his theories.”
Critical Talks
During tense discussions, the country came perilously close to exiting the single currency area.
At stake was not only Greece's destiny but also the punishing austerity policies demanded in exchange for rescue loans by international creditors.
Failed Options
Efforts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, the excoriating conditions were subjected to a public vote, an action that threw Europe into a deeper existential crisis.
Even though the referendum was won resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result then negotiate a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and distributing vouchers to retirees, Tsipras knew it was the end questioning him: “Is this for real?”
Lasting Criticism
In the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The account of history has provoked anger along with shock in some quarters, while the former minister has so far kept a deafening silence on the matter.
