Within his freshly published memoir, named Ithaki, the ex- leader Tsipras does not hold back as he examines the turbulent era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, he chose that unorthodox academic Yanis Varoufakis to be his treasury head largely due to the latter's global profile along with his highly compelling skills as a communicator.
“In reality, he was, actually, more of a star rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims how his finance chief possessed his own motives which included advancing Varoufakis's publications and experimenting with his game theories using Greece rather than truly advocating the country's financial survival.
Tsipras noted that those talks to prevent insolvency became “not just a method to secure a better deal for the country. They were a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of exiting the eurozone.
At stake lay both the country's destiny but also those punishing austerity policies required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were put to a public vote, a move that plunged Europe into a further existential crisis.
Although the vote was carried resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan that included creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and sensitive management.”
He also wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with anger and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
