In a newly released personal account, named Ithaki, the former premier Tsipras spares no criticism while he examines the turbulent era of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, Tsipras selected the unorthodox economist Yanis Varoufakis to be the finance minister mainly due to the latter's global profile and his very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims that his finance chief had a personal agenda which included advancing Varoufakis's publications and experimenting with his own game theories using Greece instead of genuinely fighting for its economic stability.
He wrote how the discussions to prevent insolvency were “not only a way to secure a better deal for Greece. They became a test, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During tense discussions, the country came perilously on the brink of exiting the single currency area.
On the line was both the country's destiny but also the severe austerity policies demanded in exchange for bailout funds from international creditors.
Failed Options
Efforts to secure funds from other sources, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those harsh bailout terms were put to a public vote, an action which threw the EU into further crisis of identity.
Even though the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result and negotiate a bailout package from foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive management.”
He further claimed how his confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of history has provoked fury and shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
