Within his freshly published personal account, named Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the chaotic period of Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, he appointed that maverick academic Yanis Varoufakis to be the treasury head mainly due to his international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“He was, truthfully, more like a star rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis had a personal agenda that included advancing Varoufakis's publications as well as experimenting with his theories on Greece instead of genuinely fighting for the country's financial survival.
Tsipras wrote how the discussions to avoid bankruptcy became “not only a way of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Talks
Amid tense discussions, the country came perilously close to exiting the single currency area.
At stake lay not only Greece's destiny but also those punishing austerity policies required in return for financial aid from foreign lenders.
Failed Options
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were put to a public vote, a move which plunged Europe into a deeper existential crisis.
Even though the referendum was won resoundingly by those against the cuts, Tsipras was forced to ignore the result then agree to a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author asserts how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
This account of history has provoked anger and shock among certain groups, while Varoufakis has maintained a deafening silence on the matter.
