Within his freshly published memoir, named Ithaki, the former prime minister Tsipras spares no criticism while he examines that chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's recollections, he appointed that maverick economist Yanis Varoufakis as his treasury head primarily because of his global profile along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, in reality, more like a star rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis possessed his own agenda that involved promoting his books and testing out his theories on Greece rather than genuinely fighting for the country's financial survival.
He noted that the discussions to avoid bankruptcy became “not just a method of achieving a better deal for Greece. They were a test, an historic opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
During volatile negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake was not only the country's future and those harsh cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move that plunged the EU into further existential crisis.
Although the referendum was carried decisively by voters against the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal from creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
When the minister outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, Tsipras concludes that Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras further claimed that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
