In a newly released autobiography, named Ithaki, the ex- leader Tsipras does not hold back as he reflects on that turbulent era of Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, he selected the unorthodox economist Yanis Varoufakis to be the treasury head largely because of his international reputation and his very persuasive abilities when it came to communicator.
“He was, in reality, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests how his finance chief possessed a personal motives which included advancing his books and testing out his economic models on Greece rather than truly fighting for its financial survival.
He noted how those negotiations to prevent bankruptcy became “not only a way to secure improved terms for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During volatile negotiations, Greece found itself perilously close to leaving the single currency area.
On the line lay not only Greece's future but also those punishing cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, a move which plunged the EU into further crisis of identity.
Although the vote was won decisively by those who opposed austerity, the prime minister had little option but to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency as well as distributing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
