Within his freshly published personal account, called Ithaki, the former leader Tsipras spares no criticism while he revisits the chaotic era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, he chose the unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his worldwide fame along with Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges how his finance chief had his own motives which included promoting his books and testing out his own theories using the nation instead of genuinely fighting for its financial survival.
He noted how those talks to stave off bankruptcy were “not only a method to secure improved terms for the country. They were an experiment, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, the country found itself perilously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny but also the severe austerity measures required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move which plunged Europe into further crisis of identity.
Even though the referendum was won resoundingly by those who opposed the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan that included creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally demonstrated himself “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote that Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and helped hawks that were pushing for Grexit.
This account of events has provoked anger along with shock in some quarters, while the former minister has so far kept a deafening silence on the matter.
