Within his freshly published memoir, titled Ithaki, the ex- premier Tsipras spares no criticism as he reflects on that turbulent era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, he chose that maverick economist Yanis Varoufakis as the finance minister mainly because of the latter's global profile along with his very persuasive abilities as a public orator.
“He was, in reality, more of a star and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims how Varoufakis possessed his own agenda that included promoting Varoufakis's publications as well as experimenting with his game theories using Greece rather than genuinely fighting for its financial survival.
He noted how those negotiations to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They were a test, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense negotiations, Greece came perilously close to exiting the single currency area.
At stake lay both the country's destiny but also the harsh austerity measures required in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Even though the referendum was carried resoundingly by those against austerity, the prime minister was forced but to reject its outcome and agree to a bailout package from creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He further wrote how his confrontational style left him more and more alone among peers, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
