Within his recently unveiled memoir, named Ithaki, the former prime minister Tsipras spares no criticism while he examines that turbulent era during Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, Tsipras selected the unorthodox academic Yanis Varoufakis to be the treasury head largely because of his global profile and his very persuasive abilities as a public orator.
“He was, truthfully, more like a star and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis had a personal motives that involved advancing Varoufakis's publications and testing out his game theories on the nation instead of genuinely advocating its financial survival.
Tsipras wrote that those discussions to avoid insolvency became “not only a way of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, Greece came perilously close to leaving the eurozone.
At stake was not only Greece's future and the harsh cutbacks demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action which threw the EU into a further existential crisis.
Although the referendum was won decisively by those against austerity, Tsipras was forced to reject its outcome and agree to a rescue deal from creditors which proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He further wrote that Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
