In a recently unveiled autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he reflects on the chaotic era of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, Tsipras selected the maverick economist Yanis Varoufakis as his treasury head primarily because of his international reputation and his very persuasive abilities as a public orator.
“He was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief possessed a personal motives that involved promoting Varoufakis's publications and experimenting with his own theories on the nation rather than genuinely advocating the country's financial survival.
Tsipras explained that those negotiations to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They were a test, an historic chance to prove the validity of his ideas.”
Critical Negotiations
During rollercoaster discussions, the country found itself perilously close to leaving the single currency area.
On the line was both Greece's destiny and those harsh austerity measures required in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, an action that plunged the EU into a further existential crisis.
Even though the referendum was carried resoundingly by those who opposed austerity, the prime minister was forced but to ignore the result and agree to a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan that included establishing a secondary currency and issuing vouchers to pensioners, Tsipras knew it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts how his former ally had proved himself “unsuitable for a deal demanding intricate and delicate management.”
He also claimed that Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
The account of events has been met with fury along with shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
