Within his recently unveiled personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back as he reflects on the chaotic era of Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, Tsipras selected the unorthodox academic Yanis Varoufakis to be the finance minister mainly due to his international reputation along with Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, in reality, more of a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had his own agenda which included promoting his publications as well as experimenting with his theories using Greece rather than truly fighting for the country's economic stability.
Tsipras explained that the discussions to prevent bankruptcy became “not just a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Talks
Amid tense negotiations, Greece came dangerously close to leaving the single currency area.
At stake was both Greece's destiny but also those punishing austerity measures demanded in return for rescue loans from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote and Reversal
That summer, the excoriating bailout terms were put to a popular referendum, an action which threw the EU into further existential crisis.
Even though the vote was won decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the book, the author concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
Tsipras further claimed how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
The retelling of events has provoked fury and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
