Within his newly released memoir, named Ithaki, the ex- premier Tsipras spares no criticism while he examines that turbulent era of Greece's debt drama.
A Controversial Choice
According to Tsipras's account, Tsipras chose that unorthodox academic Yanis Varoufakis as the treasury head primarily due to his international reputation and his highly compelling skills as a communicator.
“He was, in reality, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief had his own motives that included advancing his books and testing out his own theories on Greece instead of truly fighting for its economic stability.
He explained that those talks to stave off insolvency were “not just a way to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece found itself dangerously close to leaving the eurozone.
At stake lay not only the country's future and those harsh cutbacks demanded in return for rescue loans from international creditors.
Failed Alternatives
Attempts to find financing from other sources, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
That summer, those harsh conditions were put to a public vote, a move which threw the EU into a deeper existential crisis.
Even though the vote was won decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome and agree to a rescue deal from foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
He also claimed how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
