In a freshly published personal account, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he examines the turbulent era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, Tsipras selected that unorthodox academic Yanis Varoufakis to be the treasury head primarily due to the latter's international reputation and his very persuasive skills when it came to speaker.
“In reality, he was, actually, more of a star and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed his own agenda which involved promoting Varoufakis's publications and experimenting with his economic models on the nation instead of truly advocating the country's financial survival.
Tsipras wrote that the talks to prevent insolvency were “not just a way of achieving a better deal for the country. They were a test, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, Greece found itself perilously close to leaving the eurozone.
At stake was both Greece's destiny but also those severe austerity policies demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, the harsh conditions were subjected to a public vote, a move which plunged Europe into deeper crisis of identity.
Although the vote was carried decisively by those against the cuts, the prime minister had little option to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author asserts how Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and sensitive management.”
He further wrote that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
The retelling of history has provoked fury along with shock in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
