In a newly released autobiography, named Ithaki, the former premier Tsipras pulls no punches as he revisits the turbulent era of Greece's debt drama.
A Controversial Choice
According to Tsipras's recollections, Tsipras selected that maverick economist Yanis Varoufakis to be the finance minister largely due to his worldwide fame along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis possessed a personal agenda that included promoting Varoufakis's books as well as testing out his economic models on the nation instead of truly fighting for the country's economic stability.
Tsipras noted that the discussions to prevent insolvency became “not just a way to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Talks
During rollercoaster negotiations, the country came perilously close to leaving the single currency area.
At stake lay not only Greece's future and the severe austerity policies demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating conditions were subjected to a public vote, a move which threw Europe into a further crisis of identity.
Even though the vote was carried decisively by voters against the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal with foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
He further claimed that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating Grexit.
This account of events has provoked anger along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
