In a freshly published autobiography, titled Ithaki, the ex- premier Tsipras pulls no punches while he examines that chaotic era during Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, he chose the unorthodox economist Yanis Varoufakis as his treasury head primarily because of his international reputation along with his “extremely attractive” abilities as a public orator.
“He was, in reality, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis had his own agenda that involved promoting his publications and experimenting with his theories on Greece rather than genuinely fighting for its financial survival.
Tsipras wrote how those talks to prevent bankruptcy were “not just a method to secure a better deal for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense discussions, the country came perilously on the brink of exiting the eurozone.
On the line was not only Greece's destiny and those punishing austerity measures demanded in exchange for rescue loans from international creditors.
Failed Options
Attempts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, a move which threw the EU into further crisis of identity.
Although the vote was won decisively by those against austerity, Tsipras had little option to ignore the result and agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, the leader knew that it was the end and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He further claimed how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
The retelling of events has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
