In a newly released memoir, named Ithaki, the ex- leader Tsipras spares no criticism while he revisits that turbulent era of Greece's debt drama.
A Controversial Appointment
In Tsipras's recollections, Tsipras selected the maverick academic Yanis Varoufakis to be the treasury head primarily due to the latter's international reputation along with Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims how Varoufakis possessed his own motives that included advancing Varoufakis's books as well as testing out his own game theories on the nation instead of truly advocating the country's financial survival.
He explained how the negotiations to stave off insolvency were “not only a method to secure improved terms for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.
On the line was both the country's future and the harsh austerity measures required in return for financial aid from international creditors.
Failed Options
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those harsh conditions were subjected to a popular referendum, an action which threw the EU into deeper crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes that his former ally had proved himself “unfit for a deal demanding complex and sensitive management.”
Tsipras also wrote how his aggressive style left him increasingly isolated among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
The retelling of events has provoked fury along with shock in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
