Within his recently unveiled memoir, titled Ithaki, the ex- premier Tsipras spares no criticism while he examines the turbulent era of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's account, he appointed that unorthodox academic Yanis Varoufakis as the treasury head mainly due to his global profile and Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims that his finance chief had a personal agenda which involved promoting Varoufakis's books and experimenting with his theories using Greece rather than genuinely advocating the country's economic stability.
Tsipras noted that those talks to stave off bankruptcy were “not only a method of achieving improved terms for the country. They became a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake was both Greece's destiny and the harsh austerity measures demanded in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those harsh bailout terms were subjected to a popular referendum, a move which threw Europe into deeper crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras was forced to reject its outcome then agree to a rescue deal from creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis had proved himself “unfit for a deal that required complex and delicate management.”
He also wrote that his confrontational style made him more and more alone among peers, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
This account of history has been met with fury and shock among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
