In a newly released autobiography, called Ithaki, the former premier Tsipras pulls no punches as he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras selected the maverick economist Yanis Varoufakis as the treasury head primarily because of the latter's global profile along with Varoufakis's highly compelling skills when it came to public orator.
“He was, truthfully, more like a star rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader alleges that his finance chief had his own motives that involved promoting Varoufakis's publications as well as testing out his own game theories using Greece rather than genuinely advocating the country's financial survival.
Tsipras wrote that those negotiations to stave off bankruptcy became “not only a method of achieving a better deal for the country. They were a test, an historic opportunity to prove the truth of his theories.”
Critical Talks
During volatile negotiations, Greece came dangerously close to leaving the single currency area.
On the line lay not only Greece's destiny and the severe austerity policies required in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating conditions were put to a popular referendum, a move that plunged the EU into further existential crisis.
Even though the vote was carried resoundingly by voters against austerity, the prime minister had little option but to reject its outcome then agree to a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency and issuing coupons to pensioners, the leader knew that it was game over and asked him: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes how Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with anger along with shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
