Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that turbulent era during Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he appointed that unorthodox academic Yanis Varoufakis to be his finance minister primarily because of the latter's global profile along with Varoufakis's very persuasive abilities as a communicator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader alleges that Varoufakis possessed his own agenda which included advancing his books and experimenting with his game theories using the nation instead of genuinely fighting for its financial survival.
Tsipras explained that the discussions to avoid insolvency became “not only a way of achieving improved terms for the country. They were an experiment, a monumental chance to prove the validity of his ideas.”
High-Stakes Talks
During volatile negotiations, the country found itself perilously close to exiting the single currency area.
On the line lay both Greece's destiny but also the harsh austerity policies demanded in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those punitive bailout terms were put to a public vote, a move that plunged Europe into further existential crisis.
Although the referendum was carried resoundingly by those against the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement demanding complex and delicate management.”
He also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
The account of history has provoked anger and shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
