In a freshly published autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches while he reflects on the turbulent era during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, he appointed that maverick economist Yanis Varoufakis to be the finance minister largely because of his international reputation and his “extremely attractive” skills when it came to communicator.
“He was, actually, more like a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader alleges how his finance chief had a personal agenda that involved advancing Varoufakis's books and testing out his own game theories using Greece instead of truly advocating its financial survival.
He noted how those discussions to avoid bankruptcy were “not only a way of achieving a better deal for the country. They were an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line was both the country's future but also the severe austerity measures demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Even though the vote was won decisively by those against the cuts, the prime minister had little option but to ignore the result then negotiate a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy that included creating a parallel currency and issuing vouchers to pensioners, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive handling.”
He further wrote how his aggressive approach left him increasingly isolated among peers, put Greece at risk, while assisted hawks that were advocating Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
