Within his freshly published autobiography, called Ithaki, the ex- prime minister Tsipras does not hold back while he examines the turbulent period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, he selected that maverick economist Yanis Varoufakis as the finance minister primarily due to his global profile and his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis had a personal motives that included promoting his books and experimenting with his own game theories on the nation instead of truly advocating the country's economic stability.
Tsipras explained how those negotiations to prevent bankruptcy became “not only a way to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay not only the country's destiny but also those severe austerity policies required in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the excoriating conditions were subjected to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result and agree to a bailout package with creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how Varoufakis had proved himself “unsuitable for a deal that required intricate and delicate management.”
Tsipras also wrote that his aggressive style made him more and more alone among peers, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has been met with anger along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
