In a recently unveiled memoir, titled Ithaki, the ex- leader Tsipras does not hold back as he examines the chaotic era of Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, Tsipras selected that maverick academic Yanis Varoufakis as his treasury head mainly due to his worldwide fame along with Varoufakis's very persuasive abilities as a speaker.
“He was, truthfully, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis had a personal motives which included advancing his publications and testing out his own game theories on the nation instead of truly advocating its economic stability.
Tsipras explained that those negotiations to stave off bankruptcy became “not just a way to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was not only the country's future and the harsh cutbacks demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were subjected to a popular referendum, a move which threw Europe into deeper existential crisis.
Even though the vote was carried decisively by those against the cuts, Tsipras was forced to reject its outcome then agree to a bailout package from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, the leader knew that it was the end questioning him: “Are you serious?”
Lasting Criticism
In the book, the author asserts that his former ally demonstrated himself “unfit for a deal that required complex and delicate handling.”
He further wrote that Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, and helped hardliners that were advocating Grexit.
This retelling of events has been met with fury and shock among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
