Within his freshly published memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits that chaotic era during Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, Tsipras appointed the unorthodox economist Yanis Varoufakis as his finance minister mainly due to the latter's worldwide fame along with his highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more like a star and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis possessed his own agenda that included promoting his publications as well as testing out his own economic models on Greece rather than genuinely advocating its economic stability.
He explained that the discussions to prevent insolvency became “not just a way of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster discussions, Greece came perilously on the brink of leaving the eurozone.
At stake was not only the country's future and those punishing austerity policies demanded in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action that plunged the EU into deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras was forced to reject its outcome and agree to a rescue deal with creditors that proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy that included creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how Varoufakis had proved himself “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were advocating Grexit.
This account of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
