Within his freshly published autobiography, called Ithaki, the former prime minister Tsipras does not hold back as he examines the turbulent period of Greece's debt drama.
A Controversial Appointment
As per Tsipras's version, he selected the unorthodox academic Yanis Varoufakis to be the treasury head primarily because of the latter's global profile along with Varoufakis's highly compelling skills as a public orator.
“He was, actually, more of a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief possessed a personal motives that included promoting his publications and experimenting with his game theories using Greece instead of genuinely advocating its financial survival.
He explained that those negotiations to prevent insolvency were “not only a method to secure improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line lay both Greece's destiny and the punishing austerity policies required in return for bailout funds by foreign lenders.
Failed Options
Attempts to find financing elsewhere, including 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 during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive conditions were subjected to a public vote, an action that plunged Europe into further crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome then agree to a rescue deal from creditors which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy involving creating a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author asserts how his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
He also wrote how Varoufakis's confrontational approach left him more and more alone among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The account of history has provoked fury and shock among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
