Within his newly released memoir, named Ithaki, the former premier Tsipras spares no criticism as he examines the turbulent period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, Tsipras chose the maverick academic Yanis Varoufakis to be his finance minister primarily due to his worldwide fame along with Varoufakis's highly compelling skills when it came to communicator.
“He was, actually, more of a star and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief possessed his own agenda that involved advancing his publications and experimenting with his own theories using the nation rather than genuinely fighting for its financial survival.
He noted how those discussions to prevent bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of his ideas.”
Critical Negotiations
Amid volatile discussions, the country came perilously on the brink of exiting the eurozone.
On the line was not only the country's destiny and the severe cutbacks demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those harsh bailout terms were subjected to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Although the vote was won decisively by voters against austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, the leader knew that it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes how Varoufakis had proved himself “unsuitable for a deal that required intricate and sensitive management.”
He also wrote how his confrontational style left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
This account of history has been met with fury and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
