Within his freshly published memoir, named Ithaki, the former prime minister Tsipras spares no criticism while he revisits that turbulent period of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's account, Tsipras chose the unorthodox academic Yanis Varoufakis to be his treasury head mainly due to his international reputation along with his “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis possessed his own motives that involved promoting Varoufakis's publications and experimenting with his own game theories on Greece instead of genuinely advocating its economic stability.
Tsipras noted that those talks to avoid insolvency became “not just a method of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came perilously close to exiting the single currency area.
At stake lay not only the country's destiny and the harsh austerity measures required in exchange for bailout funds by international creditors.
Failed Options
Attempts to find financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the harsh conditions were subjected to a popular referendum, a move that threw the EU into a deeper existential crisis.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to ignore the result then agree to a bailout package with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, Tsipras knew that it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and delicate management.”
Tsipras also wrote that his confrontational approach made him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
This account of events has been met with fury and stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
