In a newly released autobiography, named Ithaki, the ex- premier Tsipras does not hold back while he examines the turbulent period of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, Tsipras selected that maverick academic Yanis Varoufakis to be his treasury head primarily due to the latter's global profile and Varoufakis's “extremely attractive” skills as a speaker.
“He was, actually, more like a star rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief had his own agenda which involved promoting his books and testing out his own economic models using the nation instead of genuinely advocating its economic stability.
Tsipras wrote how the discussions to prevent bankruptcy were “not only a method to secure improved terms for Greece. They were a test, an historic opportunity to prove the truth of his theories.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself perilously close to exiting the single currency area.
On the line lay both the country's destiny and those severe cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions 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 was forced but to ignore the result then negotiate a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
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 attracted publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to retirees, the leader knew it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unfit for an agreement that required complex and delicate management.”
Tsipras further wrote how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This account of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
