In a recently unveiled memoir, titled Ithaki, the ex- premier Tsipras spares no criticism while he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, he chose the unorthodox academic Yanis Varoufakis to be his treasury head mainly because of his worldwide fame and his “extremely attractive” skills as a communicator.
“He was, in reality, more of a star and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had a personal motives which included promoting his books as well as testing out his game theories on Greece instead of genuinely advocating its financial survival.
Tsipras noted that the discussions to prevent insolvency were “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his economic theories.”
Critical Talks
Amid volatile negotiations, Greece came dangerously close to leaving the single currency area.
At stake was not only the country's destiny but also the severe cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the harsh bailout terms were put to a popular referendum, an action which threw Europe into a deeper existential crisis.
Although the referendum was won resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes that Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and helped hawks that were advocating Grexit.
This account of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
