Within his newly released autobiography, called Ithaki, the ex- leader Tsipras spares no criticism while he revisits that chaotic period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's account, he appointed the maverick academic Yanis Varoufakis as the treasury head primarily due to his worldwide fame and Varoufakis's “extremely attractive” skills as a communicator.
“In reality, he was, in reality, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges how his finance chief possessed a personal motives that included advancing Varoufakis's publications as well as testing out his own economic models on Greece instead of truly fighting for the country's economic stability.
Tsipras noted that the discussions to avoid bankruptcy were “not only a method to secure improved terms for the country. They became a test, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During tense discussions, Greece came perilously on the brink of exiting the eurozone.
At stake was both Greece's destiny but also those severe austerity policies required in exchange for financial aid from foreign lenders.
Failed Options
Attempts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, those harsh conditions were put to a popular referendum, a move which threw the EU into a further crisis of identity.
Although the referendum was won resoundingly by those who opposed austerity, Tsipras was forced to reject its outcome then agree to a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan involving creating a parallel currency and distributing coupons to retirees, Tsipras knew that it was game over questioning him: “Are you serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He also wrote that Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were pushing for Grexit.
This account of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
