Within his freshly published memoir, called Ithaki, the ex- premier Tsipras does not hold back as he revisits the turbulent period during Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, he selected the maverick economist Yanis Varoufakis to be the finance minister largely due to the latter's international reputation along with Varoufakis's very persuasive abilities when it came to speaker.
“He was, actually, more like a celebrity rather than an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed his own agenda which included advancing Varoufakis's publications as well as testing out his own theories on Greece rather than truly advocating the country's economic stability.
He noted that those discussions to avoid insolvency became “not just a method of achieving a better deal for the country. They became an experiment, a monumental chance to prove the truth of his theories.”
Critical Negotiations
Amid volatile discussions, the country found itself dangerously close to exiting the eurozone.
On the line lay both Greece's destiny and the punishing cutbacks required in exchange for financial aid from foreign lenders.
Failed Options
Attempts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating conditions were put to a popular referendum, an action that plunged Europe into further crisis of identity.
Even though the vote was won resoundingly by voters who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors that turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and issuing vouchers to retirees, the leader knew it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts that his former ally demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
Tsipras further wrote how his aggressive style made him more and more alone among peers, endangered the country, while helped hawks that were pushing for Grexit.
The retelling of history has been met with anger and shock in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
