Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he examines the chaotic era of Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, Tsipras chose that unorthodox academic Yanis Varoufakis as his finance minister largely because of the latter's global profile along with Varoufakis's very persuasive abilities when it came to speaker.
“He was, in reality, more of a star and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras claims how Varoufakis had his own motives which involved advancing Varoufakis's publications as well as experimenting with his theories using the nation rather than truly advocating the country's economic stability.
Tsipras explained how those talks to avoid insolvency were “not only a way to secure improved terms for Greece. They were a test, an historic chance to demonstrate the truth of his economic theories.”
Critical Talks
During rollercoaster discussions, Greece found itself dangerously on the brink of leaving the single currency area.
At stake lay both Greece's destiny and those severe austerity measures required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh conditions were put to a public vote, a move which threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, Tsipras had little option to reject its outcome and negotiate a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing vouchers to retirees, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras further wrote how his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This account of events has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
