Within his freshly published memoir, named Ithaki, the former premier Tsipras spares no criticism as he examines the chaotic period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, Tsipras selected the unorthodox economist Varoufakis to be the finance minister mainly due to his worldwide fame and his “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief possessed a personal agenda which involved promoting his books and experimenting with his own economic models on the nation rather than truly advocating its economic stability.
Tsipras noted how the talks to avoid insolvency were “not only a way of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of his ideas.”
Critical Talks
Amid tense negotiations, the country came perilously on the brink of leaving the single currency area.
On the line lay not only Greece's destiny and those punishing cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and Reversal
That summer, those harsh conditions were subjected to a public vote, an action which plunged the EU into a deeper crisis of identity.
Even though the vote was carried decisively by those who opposed the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal with creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving creating a secondary currency and issuing coupons to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts how his former ally demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
He also claimed that Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for Grexit.
The account of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
