In a newly released memoir, called Ithaki, the former premier Tsipras spares no criticism while he revisits that chaotic era of Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, Tsipras appointed the maverick academic Yanis Varoufakis as his treasury head mainly because of the latter's global profile and his very persuasive skills when it came to speaker.
“He was, truthfully, more of a star rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis had a personal motives that included advancing his publications and testing out his own theories on Greece instead of truly fighting for the country's economic stability.
Tsipras wrote that the discussions to prevent insolvency were “not only a way to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid tense discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line was not only the country's destiny but also those severe austerity measures required in return for financial aid from international creditors.
Unsuccessful Options
Efforts to find financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, a move that threw Europe into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author concludes that Varoufakis demonstrated himself “unfit for a deal that required intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
