Within his newly released memoir, called Ithaki, the ex- premier Tsipras spares no criticism as he examines that turbulent period of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, he chose that maverick economist Yanis Varoufakis as his treasury head mainly due to his worldwide fame along with his very persuasive abilities when it came to communicator.
“He was, truthfully, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed his own motives which involved advancing Varoufakis's books as well as experimenting with his own game theories using Greece instead of truly advocating its economic stability.
He noted that those talks to stave off bankruptcy became “not just a way of achieving a better deal for the country. They became a test, a monumental opportunity to demonstrate the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's destiny and the severe austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those harsh bailout terms were subjected to a public vote, a move which plunged Europe into a deeper existential crisis.
Although the vote was carried decisively by those against austerity, the prime minister was forced to reject its outcome then negotiate a bailout package with creditors that turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the man who drew media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency and issuing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement that required complex and sensitive management.”
He further claimed that his confrontational approach made him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
