In a recently unveiled memoir, called Ithaki, the ex- leader Tsipras spares no criticism while he examines that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's version, Tsipras selected the unorthodox academic Yanis Varoufakis as his treasury head mainly due to the latter's international reputation along with his “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader claims how his finance chief had a personal agenda which involved advancing his books as well as testing out his economic models on Greece rather than truly advocating its financial survival.
He explained how those discussions to stave off insolvency became “not just a way of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid tense discussions, the country found itself perilously on the brink of exiting the eurozone.
At stake lay not only the country's future and those severe austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the harsh bailout terms were put to a public vote, an action which threw Europe into deeper crisis of identity.
Although the referendum was won decisively by those who opposed austerity, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras further claimed how his confrontational approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
