Within his freshly published personal account, called Ithaki, the ex- prime minister Tsipras does not hold back as he examines the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's version, Tsipras chose that maverick economist Yanis Varoufakis as the treasury head largely due to his international reputation along with his very persuasive abilities as a communicator.
“In reality, he was, in reality, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis had his own agenda that included promoting his books and testing out his theories on the nation rather than truly advocating its economic stability.
He wrote that the discussions to stave off bankruptcy were “not only a method to secure a better deal for Greece. They were an experiment, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid tense discussions, Greece came dangerously close to exiting the single currency area.
On the line lay both Greece's future and those harsh austerity measures demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those excoriating bailout terms were put to a public vote, a move that threw the EU into deeper existential crisis.
Even though the vote was won decisively by those against austerity, Tsipras had little option but to reject its outcome and agree to a rescue deal from creditors which proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included creating a secondary currency and issuing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and delicate management.”
He further wrote how Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
This account of history has provoked fury and shock among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
