In a freshly published memoir, called Ithaki, the former prime minister Tsipras spares no criticism as he revisits the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, he selected the maverick economist Yanis Varoufakis as the finance minister primarily due to the latter's worldwide fame along with Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had his own agenda which included promoting his books as well as testing out his theories using the nation rather than genuinely advocating its economic stability.
Tsipras wrote how those talks to prevent insolvency became “not just a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself dangerously close to leaving the eurozone.
On the line was both Greece's destiny but also the harsh austerity measures demanded in return for rescue loans by international creditors.
Failed Options
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
That summer, those excoriating conditions were put to a popular referendum, an action which plunged the EU into a further crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced but to ignore the result and agree to a rescue deal from foreign lenders which proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency and distributing coupons to pensioners, the leader said he realised it was game over and asked him: “Is this for real?”
Lasting Criticism
In the book, Tsipras asserts that his former ally demonstrated himself “unsuitable for an agreement that required intricate and sensitive management.”
He further wrote how his confrontational approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
The retelling of history has been met with fury and shock in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
