In a recently unveiled personal account, titled Ithaki, the former premier Tsipras pulls no punches as he reflects on the turbulent period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, he chose the unorthodox economist Yanis Varoufakis as the finance minister primarily because of the latter's international reputation along with his “extremely attractive” skills when it came to public orator.
“He was, in reality, more of a personality and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed a personal motives that involved promoting Varoufakis's books as well as testing out his economic models on Greece instead of truly advocating its economic stability.
He wrote how those negotiations to stave off insolvency became “not just a method to secure a better deal for the country. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid volatile discussions, Greece came perilously on the brink of leaving the single currency area.
On the line was not only Greece's future and those severe austerity policies required in return for rescue loans by foreign lenders.
Failed Options
Efforts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the harsh conditions were put to a public vote, a move which plunged the EU into further crisis of identity.
Even though the vote was carried decisively by voters who opposed austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal from creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, the leader knew that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts how his former ally demonstrated himself “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras further claimed that his confrontational style left him increasingly isolated among peers, put Greece at risk, while assisted hawks who were advocating Grexit.
The retelling of events has provoked anger and shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
