In a recently unveiled autobiography, named Ithaki, the ex- premier Tsipras pulls no punches while he reflects on that chaotic era of Greece's debt drama.
An Unconventional Appointment
As per Tsipras's account, Tsipras appointed that maverick economist Yanis Varoufakis to be the finance minister primarily due to his international reputation and Varoufakis's very persuasive skills as a public orator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal agenda that involved promoting Varoufakis's books as well as testing out his game theories using the nation rather than truly fighting for its economic stability.
Tsipras noted how those talks to prevent insolvency were “not just a way to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country came perilously close to exiting the eurozone.
At stake lay both Greece's future but also those punishing austerity policies required in return for rescue loans from international creditors.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those punitive conditions were put to a public vote, an action that threw Europe into further existential crisis.
Although the vote was won decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package from creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts how his former ally demonstrated himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras further wrote how his confrontational approach left him increasingly isolated among peers, put Greece at risk, and helped hawks who were pushing for Grexit.
This account of history has been met with fury along with shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
