In a freshly published personal account, named Ithaki, the former premier Tsipras spares no criticism while he examines the chaotic era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, he appointed the maverick economist Yanis Varoufakis to be the finance minister largely due to his worldwide fame along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, actually, more of a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed his own motives that included advancing his books and testing out his economic models using Greece instead of genuinely fighting for its economic stability.
He wrote that those negotiations to stave off insolvency were “not only a way to secure a better deal for Greece. They became a test, a monumental opportunity to prove the validity of his theories.”
Critical Negotiations
Amid volatile discussions, the country found itself dangerously on the brink of leaving the single currency area.
At stake lay not only Greece's destiny and those severe cutbacks required in exchange for financial aid from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, the punitive bailout terms were put to a public vote, a move which plunged the EU into further crisis of identity.
Even though the vote was won decisively by voters who opposed austerity, the prime minister was forced but to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to retirees, the leader said he realised it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement that required complex and delicate handling.”
He also wrote how his aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of events has been met with fury along with stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence on the matter.
