Within his freshly published autobiography, named Ithaki, the former leader Tsipras pulls no punches as he reflects on the chaotic era of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's version, he selected that unorthodox academic Yanis Varoufakis to be his finance minister largely due to his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, actually, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis had his own agenda that included promoting his books and testing out his own economic models on the nation instead of truly fighting for its economic stability.
He explained that those negotiations to stave off insolvency were “not only a method of achieving improved terms for Greece. They became a test, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid volatile discussions, the country found itself perilously close to exiting the single currency area.
At stake lay not only the country's destiny and those severe austerity policies required in return for bailout funds by international creditors.
Failed Alternatives
Attempts to find funds from other sources, including an urgent plea to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the excoriating conditions were put to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, Tsipras had little option to ignore the result and agree to a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of events has been met with fury along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
