In a newly released personal account, named Ithaki, the ex- premier Tsipras spares no criticism while he reflects on that chaotic period of Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, he chose that unorthodox economist Yanis Varoufakis as the finance minister primarily because of his global profile and his very persuasive abilities when it came to public orator.
“In reality, he was, in reality, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader claims how Varoufakis possessed a personal motives that involved advancing Varoufakis's books and testing out his own game theories using Greece rather than genuinely fighting for its financial survival.
Tsipras wrote that the talks to avoid insolvency became “not just a method to secure improved terms for Greece. They were a test, an historic opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
Amid volatile discussions, the country came dangerously on the brink of leaving the single currency area.
At stake was both the country's destiny but also the severe austerity measures demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the punitive conditions were put to a public vote, an action that plunged the EU into further existential crisis.
Although the referendum was won resoundingly by voters who opposed the cuts, the prime minister had little option but to reject its outcome then negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a secondary currency and distributing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate management.”
Tsipras also claimed that his confrontational approach made him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
This account of events has provoked anger along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
