Within his freshly published autobiography, named Ithaki, the former prime minister Tsipras does not hold back while he reflects on the turbulent period of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, he selected that maverick academic Yanis Varoufakis to be his treasury head largely because of his international reputation along with Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief possessed a personal agenda which involved advancing his books and experimenting with his theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras explained that those talks to avoid insolvency became “not just a way to secure improved terms for Greece. They were a test, a monumental opportunity to prove the validity of his economic theories.”
Critical Talks
During rollercoaster negotiations, Greece came dangerously close to exiting the single currency area.
At stake was not only the country's future and the severe austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were put to a public vote, an action which threw Europe into further crisis of identity.
Although the vote was carried resoundingly by those against the cuts, the prime minister was forced but to ignore the result then agree to a bailout package with creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy that included creating a parallel currency and distributing coupons to pensioners, Tsipras knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
He also claimed how his confrontational approach 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 history has provoked anger along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.
