Within his freshly published personal account, called Ithaki, the ex- premier Tsipras spares no criticism as he examines the chaotic era of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's account, Tsipras chose the unorthodox economist Yanis Varoufakis as the finance minister mainly because of the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges how his finance chief possessed a personal motives which included advancing Varoufakis's publications and testing out his own game theories using the nation rather than genuinely fighting for its financial survival.
He noted how those talks to prevent insolvency became “not only a method to secure improved terms for Greece. They were a test, a monumental chance to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself dangerously on the brink of exiting the eurozone.
On the line was both the country's destiny but also the punishing cutbacks required in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, a move that threw Europe into a deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, Tsipras had little option but to ignore the result and negotiate a bailout package with creditors that 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 the talks, the man who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a parallel currency and distributing coupons to retirees, Tsipras knew it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the memoir, the author asserts how his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive management.”
He further wrote that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and helped hardliners that were pushing for Grexit.
This retelling of events has been met with anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
