Within his recently unveiled memoir, named Ithaki, the ex- premier Tsipras spares no criticism as he examines the turbulent period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he appointed the maverick economist Yanis Varoufakis to be his finance minister largely because of the latter's worldwide fame along with Varoufakis's highly compelling skills when it came to speaker.
“He was, in reality, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests that his finance chief possessed a personal motives which involved advancing Varoufakis's publications as well as experimenting with his own economic models using the nation rather than truly fighting for the country's economic stability.
He explained how the talks to avoid insolvency became “not just a way of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the truth of his ideas.”
Critical Talks
During rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
On the line lay both Greece's future and those severe austerity measures demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the punitive bailout terms were put to a public vote, a move which threw the EU into deeper crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome and agree to a bailout package from creditors that turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
He also wrote that Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
This account of history has provoked fury along with shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
