Within his newly released autobiography, titled Ithaki, the former leader Tsipras does not hold back while he revisits the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, Tsipras chose that maverick economist Yanis Varoufakis as the treasury head primarily due to the latter's worldwide fame along with Varoufakis's very persuasive skills as a speaker.
“He was, in reality, more of a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief possessed a personal agenda which involved advancing his publications as well as testing out his game theories on the nation instead of truly advocating the country's economic stability.
Tsipras noted how the talks to prevent bankruptcy were “not only a method of achieving improved terms for the country. They were a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
At stake was not only the country's future but also those severe austerity measures required in return for bailout funds by international creditors.
Failed Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those harsh bailout terms were put to a popular referendum, an action which threw the EU into a further existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister was forced to reject its outcome and negotiate a bailout package with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author asserts that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and delicate management.”
He further wrote how his confrontational style left him more and more alone with colleagues, put Greece at risk, and assisted hawks who were advocating Grexit.
The account of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.
