Within his recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras does not hold back while he reflects on the chaotic period of Greece's debt drama.
An Unconventional Choice
In Tsipras's recollections, Tsipras selected that maverick economist Yanis Varoufakis as his treasury head mainly due to the latter's worldwide fame along with his very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more like a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges how his finance chief had a personal motives which included advancing his publications and experimenting with his own economic models using the nation instead of truly fighting for the country's financial survival.
He explained how those negotiations to stave off bankruptcy became “not just a way of achieving a better deal for Greece. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake lay both Greece's destiny but also the punishing cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a public vote, a move that plunged Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to retirees, the leader knew it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes that his former ally demonstrated himself “unsuitable for a deal demanding intricate and sensitive handling.”
He also claimed that Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
This account of history has provoked anger along with shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
