In a recently unveiled memoir, called Ithaki, the former premier Tsipras spares no criticism while he examines that chaotic period of Greece's debt drama.
A Controversial Choice
According to Tsipras's version, Tsipras selected the unorthodox economist Yanis Varoufakis as his treasury head primarily due to his worldwide fame and his “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more of a star rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis had his own motives that involved promoting his publications as well as testing out his economic models using the nation instead of genuinely advocating its economic stability.
Tsipras explained how the negotiations to avoid insolvency were “not only a method to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid volatile discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny and those severe austerity measures required in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those harsh bailout terms were subjected to a popular referendum, a move which plunged the EU into further crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal from creditors which proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts how Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
He also wrote that his confrontational style left him more and more alone among peers, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
