Within his recently unveiled autobiography, named Ithaki, the former prime minister Tsipras does not hold back while he revisits the turbulent period of Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, Tsipras chose that unorthodox academic Yanis Varoufakis as the finance minister primarily due to his worldwide fame and his highly compelling skills when it came to public orator.
“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 had his own motives which included advancing his publications as well as testing out his own economic models using the nation rather than genuinely advocating its financial survival.
Tsipras noted that those discussions to stave off insolvency became “not only a way to secure a better deal for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay not only the country's future but also those severe austerity policies demanded in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the harsh conditions were subjected to a public vote, a move which threw Europe into a deeper existential crisis.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result and agree to a rescue deal from foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement that required intricate and delicate handling.”
He also claimed how his confrontational style left him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
