Within his recently unveiled memoir, named Ithaki, the former premier Tsipras does not hold back as he examines the turbulent period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, Tsipras appointed the unorthodox academic Yanis Varoufakis to be the treasury head largely because of his international reputation and his very persuasive skills as a communicator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis had a personal agenda which involved promoting Varoufakis's books as well as experimenting with his own economic models using the nation rather than truly fighting for the country's financial survival.
Tsipras noted how the negotiations to stave off bankruptcy became “not just a method to secure improved terms for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
During tense discussions, the country found itself dangerously close to leaving the single currency area.
On the line was not only Greece's future but also those punishing austerity measures required in return for financial aid by international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the punitive bailout terms were put to a public vote, an action that plunged the EU into further existential crisis.
Even though the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced but to reject its outcome then agree to a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over and asked him: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts how his former ally had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He also wrote how Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The account of events has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
