In a freshly published personal account, named Ithaki, the former prime minister Tsipras does not hold back while he examines the chaotic era during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, Tsipras selected the maverick academic Yanis Varoufakis to be the treasury head mainly because of the latter's global profile and Varoufakis's highly compelling abilities when it came to communicator.
“He was, actually, more of a personality rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader suggests how his finance chief possessed his own motives that included promoting his books as well as experimenting with his economic models using Greece instead of genuinely advocating the country's financial survival.
Tsipras noted that those talks to stave off insolvency were “not just a way of achieving a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster discussions, the country came perilously close to exiting the single currency area.
At stake was not only Greece's future but also those severe cutbacks demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those punitive conditions were put to a public vote, a move that threw Europe into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced to reject its outcome then negotiate a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis had proved himself to be “unfit for a deal that required intricate and sensitive handling.”
He further claimed that his aggressive style made him increasingly isolated among peers, endangered the country, while helped hawks who were advocating Grexit.
This retelling of history has provoked anger and shock among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
