In a recently unveiled autobiography, called Ithaki, the ex- premier Tsipras does not hold back while he examines the chaotic era of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's account, he selected that unorthodox academic Yanis Varoufakis as his finance minister primarily due to his international reputation and his “extremely attractive” skills as a public orator.
“He was, actually, more of a celebrity rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis possessed a personal motives that included advancing Varoufakis's publications as well as testing out his own economic models on Greece rather than truly advocating the country's economic stability.
Tsipras explained how the talks to stave off insolvency became “not just a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During volatile negotiations, the country came dangerously on the brink of leaving the single currency area.
At stake was both the country's destiny and those harsh austerity policies required in exchange for financial aid by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh conditions were put to a popular referendum, an action which threw Europe into a further crisis of identity.
Even though the referendum was carried resoundingly by voters against austerity, Tsipras was forced but to reject its outcome and agree to a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing vouchers to retirees, Tsipras knew it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis had proved himself “unfit for an agreement demanding intricate and delicate management.”
He further claimed how Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
The account of history has provoked anger along with shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
