In a recently unveiled personal account, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he examines the chaotic period of Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, he appointed the maverick economist Yanis Varoufakis as his finance minister largely because of his global profile along with his “extremely attractive” skills when it came to public orator.
“He was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief had a personal agenda which included advancing Varoufakis's publications as well as testing out his theories using Greece instead of truly advocating the country's economic stability.
He noted that the negotiations to prevent bankruptcy became “not only a method of achieving improved terms for Greece. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During tense negotiations, the country found itself perilously close to leaving the single currency area.
At stake lay both the country's future but also those punishing austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating conditions were put to a public vote, a move that plunged Europe into deeper existential crisis.
Although the referendum was won decisively by voters against austerity, Tsipras was forced to reject its outcome then agree to a bailout package with creditors which turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a backup strategy involving creating a secondary currency and issuing coupons to retirees, the leader knew it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts how his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of history has provoked anger along with shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
