In a freshly published personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back as he examines that chaotic era during Greece's debt drama.
A Controversial Choice
As per Tsipras's account, he selected the maverick economist Yanis Varoufakis to be his treasury head largely due to the latter's worldwide fame and his “extremely attractive” abilities when it came to communicator.
“He was, actually, more of a star and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis had his own agenda that involved advancing Varoufakis's books and experimenting with his own game theories on Greece rather than genuinely advocating its financial survival.
He explained how the talks to prevent insolvency were “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid tense negotiations, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay not only the country's destiny and those severe austerity policies demanded in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the excoriating conditions were put to a popular referendum, a move that threw the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister was forced to reject its outcome and agree to a rescue deal from creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing coupons to pensioners, Tsipras said he realised that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
Tsipras also claimed that his confrontational approach made him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating Grexit.
The retelling of history has been met with fury and stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
