Within his recently unveiled autobiography, called Ithaki, the ex- premier Tsipras spares no criticism as he examines that chaotic period during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's version, Tsipras chose the maverick economist Yanis Varoufakis to be the treasury head largely because of the latter's international reputation along with Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, actually, more of a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests how Varoufakis had a personal motives which included promoting his publications as well as testing out his economic models on the nation rather than genuinely advocating its financial survival.
He wrote that the negotiations to stave off bankruptcy were “not just a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line lay both the country's destiny but also those severe cutbacks demanded in return for rescue loans from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, an action which plunged Europe into a deeper existential crisis.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras was forced to reject its outcome then negotiate a bailout package with creditors which turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also claimed that his aggressive style left him increasingly isolated with colleagues, endangered the country, and helped hawks who were advocating Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
