In a newly released memoir, called Ithaki, the ex- leader Tsipras spares no criticism while he reflects on the turbulent period during Greece's financial crisis.
A Controversial Choice
In Tsipras's account, he appointed the unorthodox economist Yanis Varoufakis as his finance minister primarily because of the latter's worldwide fame and his “extremely attractive” abilities as a public orator.
“He was, actually, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief had a personal motives that involved advancing Varoufakis's publications and testing out his theories using the nation rather than genuinely fighting for its economic stability.
He wrote how those discussions to prevent bankruptcy were “not only a way to secure a better deal for Greece. They became an experiment, a monumental chance to demonstrate the truth of his economic theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
At stake was both Greece's destiny and those harsh cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including an urgent plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those harsh conditions were put to a popular referendum, an action which threw the EU into a further crisis of identity.
Even though the vote was won decisively by those against the cuts, Tsipras was forced to reject its outcome then negotiate a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving creating a parallel currency and issuing coupons to pensioners, the leader said he realised it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, the author asserts that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
He further wrote that his confrontational approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
The retelling of events has been met with fury and stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
