In a freshly published memoir, named Ithaki, the former premier Tsipras spares no criticism while he examines the chaotic era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, he chose that maverick academic Yanis Varoufakis to be his treasury head largely because of his global profile and his very persuasive abilities when it came to public orator.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed his own motives that included promoting Varoufakis's books as well as experimenting with his own theories using Greece instead of genuinely advocating the country's financial survival.
He noted how the talks to prevent bankruptcy were “not just a method of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During volatile discussions, the country came perilously close to exiting the single currency area.
On the line was not only Greece's future but also the punishing austerity policies required in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those excoriating bailout terms were put to a public vote, a move which plunged Europe into a deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing coupons to retirees, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal demanding complex and sensitive handling.”
He further claimed how his confrontational approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were advocating Grexit.
The account of events has provoked fury and shock in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
