In a newly released personal account, named Ithaki, the ex- prime minister Tsipras does not hold back while he examines the turbulent period of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's recollections, Tsipras appointed the maverick economist Yanis Varoufakis as his finance minister mainly because of his international reputation along with Varoufakis's very persuasive skills as a communicator.
“In reality, he was, actually, more of a celebrity rather than an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis had a personal motives that included promoting Varoufakis's publications as well as testing out his own game theories on Greece instead of truly fighting for the country's financial survival.
He noted that those talks to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line was not only Greece's destiny but also those harsh austerity policies required in return for financial aid from international creditors.
Failed Options
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action that plunged Europe into a deeper existential crisis.
Even though the referendum was won decisively by voters against the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving creating a secondary currency and issuing vouchers to pensioners, the leader said he realised that it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes how Varoufakis had proved himself “unfit for a deal that required intricate and delicate handling.”
Tsipras further claimed how his aggressive style left him more and more alone among peers, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
This account of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
