In a newly released autobiography, named Ithaki, the former prime minister Tsipras pulls no punches as he examines the turbulent era during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, Tsipras chose that maverick academic Yanis Varoufakis to be the finance minister mainly because of the latter's international reputation along with Varoufakis's “extremely attractive” abilities as a speaker.
“He was, in reality, more like a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief possessed his own motives that included promoting Varoufakis's publications and testing out his own game theories on Greece rather than truly advocating its financial survival.
He noted that those negotiations to stave off bankruptcy were “not just a method to secure improved terms for the country. They were an experiment, an historic chance to prove the truth of his ideas.”
Critical Talks
During tense negotiations, the country came perilously on the brink of leaving the single currency area.
At stake lay not only the country's destiny but also those severe austerity measures demanded in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were put to a public vote, an action which threw Europe into a further crisis of identity.
Even though the referendum was carried resoundingly by voters against austerity, the prime minister had little option but to ignore the result then negotiate a rescue deal from creditors that proved to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency and distributing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate management.”
Tsipras further wrote that his confrontational approach made him increasingly isolated among peers, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
This retelling of events has been met with fury and stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
