Within his recently unveiled memoir, named Ithaki, the former prime minister Tsipras spares no criticism as he revisits that chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's account, Tsipras selected that unorthodox economist Yanis Varoufakis to be the finance minister largely due to his international reputation and his highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief had his own motives which involved advancing Varoufakis's books and testing out his economic models using the nation instead of genuinely advocating its economic stability.
Tsipras explained how the discussions to prevent insolvency became “not just a way of achieving a better deal for Greece. They were a test, a monumental chance to prove the truth of his theories.”
Critical Talks
Amid tense discussions, Greece came dangerously on the brink of exiting the single currency area.
At stake lay both Greece's future but also the severe austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating conditions were put to a public vote, an action that threw Europe into a further crisis of identity.
Although the vote was carried decisively by those against austerity, Tsipras was forced to ignore the result then negotiate a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.
This account of history has provoked anger and shock among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
