Within his recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras does not hold back while he examines that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed the maverick academic Yanis Varoufakis to be the treasury head mainly due to the latter's international reputation and Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more like a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras suggests how his finance chief had a personal agenda which involved promoting his books and testing out his economic models on the nation instead of truly advocating the country's economic stability.
He noted that those negotiations to stave off bankruptcy became “not just a method to secure a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
During volatile negotiations, Greece came perilously close to leaving the eurozone.
On the line was not only the country's destiny and the harsh austerity measures demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action that threw Europe into a further crisis of identity.
Although the referendum was won resoundingly by those against austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that his former ally had proved himself “unsuitable for an agreement that required intricate and sensitive handling.”
He further claimed how his confrontational approach left him more and more alone among peers, endangered the country, and helped hawks who were pushing for Grexit.
This account of history has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
