In a recently unveiled memoir, named Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the chaotic period during Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, he selected the maverick economist Yanis Varoufakis as the finance minister primarily because of his global profile and Varoufakis's “extremely attractive” abilities as a public orator.
“He was, in reality, more like a star rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how his finance chief possessed a personal agenda that included advancing Varoufakis's publications and experimenting with his economic models using the nation rather than genuinely fighting for the country's financial survival.
Tsipras wrote how the talks to prevent bankruptcy were “not only a method to secure a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During tense negotiations, Greece came perilously close to exiting the eurozone.
On the line was not only Greece's destiny but also the harsh austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action that threw the EU into further crisis of identity.
Although the vote was carried decisively by voters against the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
After the minister proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive management.”
He further claimed that his aggressive approach made him more and more alone among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
The retelling of history has been met with fury along with shock in some quarters, whereas the former minister has maintained a deafening silence on the matter.
