Within his freshly published memoir, titled Ithaki, the ex- premier Tsipras pulls no punches as he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's recollections, he chose that maverick economist Yanis Varoufakis to be the treasury head largely because of the latter's worldwide fame and his very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal motives which involved advancing Varoufakis's books as well as experimenting with his theories using Greece rather than genuinely fighting for the country's financial survival.
He noted that those negotiations to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
During volatile discussions, the country came dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny but also the punishing austerity policies required in return for rescue loans from international creditors.
Failed Alternatives
Attempts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those punitive conditions were put to a public vote, a move which threw the EU into a further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan involving creating a parallel currency and issuing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author concludes that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further wrote that his aggressive approach left him increasingly isolated among peers, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The account of history has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
