In a freshly published autobiography, called Ithaki, the ex- prime minister Tsipras does not hold back as he revisits the turbulent era of Greece's debt drama.
An Unconventional Choice
In Tsipras's account, Tsipras appointed that maverick economist Yanis Varoufakis as the finance minister largely because of his global profile along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more like a star and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed a personal agenda that involved promoting Varoufakis's books and testing out his own theories on the nation instead of genuinely fighting for its economic stability.
Tsipras wrote that those discussions to stave off insolvency became “not just a method of achieving improved terms for Greece. They became a test, a monumental opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself perilously close to leaving the single currency area.
At stake lay both Greece's future and those harsh austerity measures required in return for rescue loans by foreign lenders.
Failed Options
Efforts to secure financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, a move that threw the EU into deeper crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and helped hardliners that were pushing for Grexit.
This retelling of history has been met with fury along with shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
