Within his freshly published personal account, named Ithaki, the ex- leader Tsipras spares no criticism as he examines that chaotic era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, he chose the maverick academic Yanis Varoufakis as his treasury head primarily because of his global profile along with Varoufakis's “extremely attractive” skills as a public orator.
“He was, in reality, more of a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief had a personal motives which included advancing his publications and experimenting with his game theories on the nation instead of truly fighting for its economic stability.
He wrote how those talks to avoid bankruptcy were “not just a method of achieving improved terms for Greece. They were an experiment, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came perilously on the brink of leaving the eurozone.
At stake was not only the country's destiny and those severe austerity measures required in return for financial aid by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, the punitive conditions were subjected to a public vote, a move that threw Europe into a further existential crisis.
Although the referendum was carried decisively by voters against the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal with creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a parallel currency and issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, the author asserts that his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hawks that were advocating Grexit.
The account of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.
