Within his freshly published personal account, called Ithaki, the former prime minister Tsipras spares no criticism while he examines that chaotic era during Greece's debt drama.
An Unconventional Choice
In Tsipras's recollections, Tsipras selected the unorthodox academic Yanis Varoufakis to be the finance minister primarily due to the latter's global profile and Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more like a personality and less of an economist,” recalled Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal motives which involved advancing his publications as well as testing out his own theories on Greece rather than truly fighting for the country's economic stability.
Tsipras explained that the talks to stave off bankruptcy became “not only a method of achieving improved terms for Greece. They were an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
During rollercoaster negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was both the country's destiny and the severe cutbacks demanded in return for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating conditions were put to a public vote, a move that plunged the EU into a further crisis of identity.
Although the vote was carried resoundingly by those against austerity, Tsipras had little option to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how Varoufakis had proved himself to be “unfit for an agreement demanding complex and delicate management.”
He also wrote that his confrontational style left him increasingly isolated among peers, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
The account of history has provoked anger along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
