In a newly released personal account, named Ithaki, the ex- premier Tsipras spares no criticism while he reflects on the chaotic period of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, he appointed the maverick academic Yanis Varoufakis to be his finance minister largely because of the latter's global profile and his “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more like a star and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own motives which involved advancing his books as well as experimenting with his own theories using the nation rather than truly fighting for its financial survival.
He wrote how those discussions to stave off insolvency were “not just a method of achieving improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During volatile negotiations, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay not only Greece's future and the punishing austerity policies required in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those harsh bailout terms were subjected to a public vote, a move that plunged Europe into deeper crisis of identity.
Although the vote was carried decisively by voters against the cuts, Tsipras was forced to ignore the result and agree to a bailout package with foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, the author asserts how Varoufakis had proved himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The retelling of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
