In a freshly published personal account, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he examines that turbulent period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, Tsipras appointed that maverick academic Yanis Varoufakis to be his finance minister primarily because of the latter's international reputation and Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, actually, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief possessed his own agenda which included promoting his publications as well as testing out his own economic models using the nation rather than truly fighting for its financial survival.
He noted how the talks to avoid bankruptcy became “not just a way to secure a better deal for Greece. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense negotiations, Greece came perilously on the brink of exiting the eurozone.
On the line was both the country's destiny and those punishing austerity measures demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive bailout terms were put to a popular referendum, a move that plunged the EU into a further crisis of identity.
Even though the referendum was carried decisively by those against the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency as well as distributing vouchers to retirees, the leader knew that it was game over and asked him: “Are you serious?”
Lasting Criticism
In the memoir, the author concludes how his former ally had proved himself to be “unfit for an agreement demanding intricate and sensitive handling.”
He further wrote how his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
The account of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
