Within his freshly published memoir, named Ithaki, the former premier Tsipras does not hold back while he revisits that turbulent period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, Tsipras appointed that unorthodox academic Yanis Varoufakis to be his finance minister mainly because of the latter's worldwide fame along with his “extremely attractive” abilities as a public orator.
“He was, in reality, more of a personality rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis possessed a personal motives which included advancing Varoufakis's publications and experimenting with his theories on the nation rather than truly fighting for its economic stability.
He wrote how those negotiations to avoid insolvency were “not only a method to secure improved terms for the country. They were an experiment, a monumental chance to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.
On the line lay not only the country's future but also the severe cutbacks required in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were put to a public vote, an action that threw Europe into deeper existential crisis.
Even though the vote was carried decisively by voters against austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal from creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency and distributing coupons to retirees, Tsipras knew it was the end questioning him: “Is this for real?”
Enduring Criticism
In the book, the author asserts that Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
He further claimed how Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, while helped hawks who were advocating Grexit.
This account of events has provoked anger along with shock among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
