In a freshly published memoir, titled Ithaki, the former leader Tsipras does not hold back as he examines that turbulent era during Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, Tsipras appointed that unorthodox economist Yanis Varoufakis as his treasury head primarily because of the latter's global profile and his highly compelling abilities when it came to speaker.
“He was, actually, more of a personality and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief possessed his own motives which involved advancing Varoufakis's publications as well as testing out his economic models using the nation instead of genuinely fighting for its economic stability.
Tsipras wrote how those negotiations to stave off bankruptcy were “not only a method to secure a better deal for Greece. They became a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster negotiations, the country came perilously close to leaving the eurozone.
On the line lay not only the country's future and those severe cutbacks required in return for financial aid from international creditors.
Failed Options
Efforts to secure funds elsewhere, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were put to a popular referendum, a move which plunged Europe into deeper crisis of identity.
Even though the referendum was won decisively by those against austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive handling.”
Tsipras further wrote that his aggressive approach made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of history has provoked anger and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
