Within his recently unveiled memoir, titled Ithaki, the former leader Tsipras spares no criticism as he examines that chaotic era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's account, Tsipras selected that unorthodox economist Yanis Varoufakis to be his treasury head mainly because of his worldwide fame and Varoufakis's very persuasive skills as a public orator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims that his finance chief had a personal agenda which involved promoting Varoufakis's publications and testing out his game theories on Greece rather than truly fighting for the country's financial survival.
He wrote that those talks to stave off bankruptcy were “not only a way of achieving improved terms for the country. They became a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
During tense negotiations, the country came dangerously close to leaving the single currency area.
At stake lay not only the country's destiny but also those severe cutbacks required in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
That summer, those punitive bailout terms were subjected to a public vote, an action that plunged Europe into deeper crisis of identity.
Although the vote was carried decisively by voters who opposed the cuts, Tsipras had little option to ignore the result and agree to a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts that his former ally had proved himself “unsuitable for a deal that required intricate and delicate handling.”
He also wrote that his confrontational style made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
