Within his recently unveiled memoir, titled Ithaki, the former prime minister Tsipras spares no criticism while he revisits the turbulent period of Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, Tsipras selected that maverick economist Yanis Varoufakis to be the treasury head largely because of his global profile along with his very persuasive abilities when it came to communicator.
“He was, actually, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief possessed a personal motives which involved promoting his books and testing out his own theories on the nation rather than truly fighting for the country's economic stability.
Tsipras wrote that those discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They became a test, a monumental chance to prove the validity of his theories.”
Critical Negotiations
During volatile discussions, Greece found itself perilously close to leaving the single currency area.
On the line lay not only the country's destiny but also the harsh austerity measures required in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a popular referendum, an action that threw the EU into a deeper existential crisis.
Although the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result and agree to a bailout package from creditors which turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan that included creating a parallel currency and issuing vouchers to retirees, Tsipras knew it was the end questioning him: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate management.”
He also claimed how Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.
