Within his newly released autobiography, named Ithaki, the former leader Tsipras spares no criticism while he revisits that turbulent period of Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, he selected the maverick academic Yanis Varoufakis to be the finance minister primarily due to his worldwide fame along with his very persuasive skills when it came to communicator.
“In reality, he was, actually, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis had his own agenda that involved advancing Varoufakis's books as well as testing out his economic models on the nation instead of truly fighting for its economic stability.
Tsipras explained how those discussions to avoid bankruptcy were “not just a method of achieving improved terms for Greece. They were an experiment, a monumental chance to prove the truth of his ideas.”
High-Stakes Talks
During rollercoaster negotiations, Greece came perilously close to exiting the single currency area.
On the line lay both Greece's future and the severe austerity policies demanded in return for rescue loans by international creditors.
Failed Options
Efforts to find financing from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the punitive conditions were put to a public vote, an action which threw Europe into a further existential crisis.
Even though the vote was carried decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of magazines globally … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan that included creating a parallel currency and issuing coupons to pensioners, the leader said he realised it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes how his former ally demonstrated himself “unfit for a deal that required intricate and delicate management.”
Tsipras also claimed that his aggressive approach left him more and more alone among peers, endangered the country, while assisted hardliners that were pushing for Grexit.
This account of history has provoked anger along with shock among certain groups, while the former minister has kept a deafening silence on the matter.
