In a recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras pulls no punches while he examines the turbulent period during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, he chose the unorthodox economist Yanis Varoufakis to be the treasury head largely because of his international reputation along with his “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges that Varoufakis possessed a personal motives which included advancing Varoufakis's publications and testing out his theories using Greece rather than genuinely fighting for its financial survival.
He noted how the discussions to avoid bankruptcy were “not just a method to secure improved terms for Greece. They became an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid tense discussions, Greece came perilously close to exiting the single currency area.
At stake lay both Greece's future and the harsh austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action that plunged the EU into a further existential crisis.
Even though the vote was won decisively by those who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal with foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes that Varoufakis had proved himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras further claimed how his aggressive approach made him more and more alone among peers, put Greece at risk, while helped hawks that were pushing for a Greek exit from the euro.
The account of events has been met with fury and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
