Within his recently unveiled memoir, named Ithaki, the ex- leader Tsipras does not hold back while he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's account, he chose that unorthodox economist Yanis Varoufakis as his finance minister mainly due to the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief possessed his own motives which involved promoting his publications and experimenting with his theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras explained that the talks to stave off bankruptcy were “not only a method of achieving improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of his theories.”
Critical Talks
During tense negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake was not only the country's destiny but also the severe austerity policies required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which plunged Europe into further crisis of identity.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option to ignore the result and agree to a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency and distributing vouchers to retirees, the leader knew it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal that required complex and delicate management.”
Tsipras also claimed how Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
The account of history has been met with anger and shock among certain groups, while the former minister has maintained a deafening silence on the matter.
