In a recently unveiled memoir, named Ithaki, the ex- premier Tsipras spares no criticism while he examines the chaotic era during Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, he appointed the maverick economist Yanis Varoufakis to be his finance minister largely due to the latter's global profile along with his “extremely attractive” skills when it came to communicator.
“He was, actually, more of a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed a personal agenda which involved advancing his publications and experimenting with his game theories on the nation instead of genuinely fighting for its financial survival.
Tsipras wrote that those discussions to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They became an experiment, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
During rollercoaster discussions, Greece came perilously close to leaving the single currency area.
At stake was both the country's future and those punishing austerity policies required in return for rescue loans from international creditors.
Failed Options
Attempts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the excoriating conditions were put to a public vote, an action that threw the EU into further existential crisis.
Although the referendum was won resoundingly by voters against austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author concludes that his former ally demonstrated himself “unsuitable for a deal that required complex and delicate handling.”
Tsipras further claimed how his confrontational style left him more and more alone with colleagues, endangered the country, and assisted hawks who were pushing for Grexit.
The account of events has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
