In a recently unveiled autobiography, titled Ithaki, the former premier Tsipras does not hold back while he examines that chaotic era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's recollections, Tsipras chose the maverick economist Yanis Varoufakis as his finance minister primarily due to his worldwide fame along with his “extremely attractive” skills when it came to speaker.
“In reality, he was, actually, more of a star and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis had a personal motives that involved advancing Varoufakis's publications as well as experimenting with his economic models using Greece rather than truly fighting for its financial survival.
Tsipras noted that those negotiations to stave off insolvency became “not only a method of achieving a better deal for Greece. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country came perilously close to leaving the single currency area.
On the line was both Greece's future but also the harsh austerity policies required in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin 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 Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move which threw Europe into further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, the prime minister had little option but to reject its outcome and agree to a bailout package from creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end questioning him: “Is this for real?”
Lasting Criticism
Within the book, the author concludes how his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He also claimed how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
