In a recently unveiled autobiography, called Ithaki, the ex- premier Tsipras spares no criticism as he reflects on the turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, Tsipras chose that maverick academic Yanis Varoufakis to be his treasury head mainly because of his international reputation and his “extremely attractive” skills as a public orator.
“He was, truthfully, more like a star rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims that Varoufakis had a personal agenda that included advancing his publications and testing out his theories on the nation rather than genuinely fighting for its financial survival.
Tsipras noted how the discussions to stave off bankruptcy were “not only a method to secure improved terms for the country. They became a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Talks
During tense negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line was both the country's future but also the harsh austerity measures demanded in exchange for financial aid by foreign lenders.
Failed Options
Attempts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a public vote, a move which plunged Europe into a deeper crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Enduring Criticism
In the memoir, the author concludes how Varoufakis had proved himself “unfit for a deal that required complex and delicate handling.”
He further wrote how his confrontational style made him more and more alone with colleagues, endangered the country, and assisted hardliners that were pushing for Grexit.
This account of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
