In a freshly published personal account, named Ithaki, the former prime minister Tsipras spares no criticism while he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's recollections, Tsipras chose the maverick academic Yanis Varoufakis to be his finance minister primarily because of the latter's worldwide fame and his very persuasive abilities as a communicator.
“He was, actually, more like a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras claims how his finance chief possessed a personal agenda which involved promoting Varoufakis's publications as well as experimenting with his own economic models using Greece instead of genuinely advocating the country's economic stability.
Tsipras explained that the negotiations to stave off bankruptcy became “not only a method of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself perilously on the brink of leaving the single currency area.
At stake was both Greece's future and those harsh cutbacks required in exchange for financial aid by foreign lenders.
Failed Options
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, the punitive conditions were put to a popular referendum, a move that threw the EU into deeper existential crisis.
Even though the referendum was won decisively by those who opposed austerity, Tsipras was forced to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was the end and asked him: “Is this for real?”
Enduring Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate handling.”
He also claimed how his confrontational style left him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
The retelling of history has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
