In a recently unveiled memoir, named Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the turbulent period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's recollections, Tsipras appointed that unorthodox academic Yanis Varoufakis as his treasury head mainly because of the latter's international reputation and Varoufakis's very persuasive abilities as a public orator.
“He was, in reality, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis possessed his own agenda that involved advancing Varoufakis's books as well as testing out his theories using Greece rather than truly advocating the country's financial survival.
He explained how those discussions to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the truth of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line was not only Greece's future but also those punishing cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were put to a public vote, an action which plunged the EU into a further crisis of identity.
Even though the vote was carried decisively by voters who opposed austerity, Tsipras had little option to ignore the result then negotiate a bailout package with foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
This account of events has been met with fury and shock among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
