In a freshly published autobiography, named Ithaki, the ex- prime minister Tsipras does not hold back as he reflects on the turbulent era of Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he selected that maverick economist Yanis Varoufakis as his finance minister largely because of his international reputation along with his highly compelling abilities as a speaker.
“He was, actually, more of a personality rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis had his own motives which included promoting Varoufakis's books and experimenting with his game theories on Greece instead of genuinely fighting for the country's financial survival.
He noted that those talks to prevent insolvency were “not just a way of achieving a better deal for Greece. They were a test, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece came perilously on the brink of leaving the eurozone.
At stake lay both Greece's future but also those severe cutbacks required in return for financial aid from foreign lenders.
Failed Options
Attempts to find funds from other sources, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, an action which plunged Europe into a deeper existential crisis.
Although the referendum was won decisively by voters who opposed austerity, Tsipras was forced to ignore the result then negotiate a rescue deal with creditors which turned out to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to retirees, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author concludes how his former ally demonstrated himself “unsuitable for a deal demanding complex and delicate handling.”
He also wrote how his confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
