Within his newly released memoir, named Ithaki, the former premier Tsipras spares no criticism as he reflects on that turbulent period during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, Tsipras chose that maverick economist Yanis Varoufakis to be the treasury head mainly because of his worldwide fame along with his “extremely attractive” abilities as a communicator.
“He was, in reality, more of a star and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal motives which involved promoting his books as well as experimenting with his theories on Greece instead of truly fighting for its economic stability.
Tsipras explained that those talks to stave off bankruptcy became “not only a way to secure a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line lay not only the country's future and the punishing austerity policies demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, including an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum and Reversal
That summer, those punitive conditions were put to a public vote, an action which plunged Europe into deeper existential crisis.
Even though the vote was won decisively by those against austerity, the prime minister was forced to reject its outcome then negotiate a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and issuing coupons to retirees, the leader knew it was the end and asked him: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate handling.”
Tsipras further claimed how his confrontational approach left him more and more alone among peers, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
The account of history has been met with fury and shock among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
