Within his newly released personal account, called Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the turbulent period during Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's recollections, he selected that unorthodox academic Yanis Varoufakis as his finance minister mainly due to his worldwide fame along with Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, truthfully, more of a star rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal agenda which included promoting Varoufakis's publications as well as testing out his own game theories on the nation instead of truly fighting for the country's economic stability.
Tsipras explained that the talks to avoid insolvency were “not only a method of achieving a better deal for Greece. They were an experiment, an historic chance to prove the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself perilously close to exiting the single currency area.
On the line was both Greece's destiny and the harsh cutbacks demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those harsh conditions were put to a public vote, an action that threw the EU into a further crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal from creditors that proved to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, the author asserts how his former ally demonstrated himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras also claimed that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
