Within his recently unveiled personal account, titled Ithaki, the former prime minister Tsipras pulls no punches while he reflects on the turbulent era during Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis as his treasury head primarily due to his global profile and Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, actually, more like a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests how his finance chief possessed his own motives that involved promoting his publications and testing out his own game theories using the nation rather than truly fighting for its financial survival.
Tsipras explained that the talks to stave off insolvency were “not just a method of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of his ideas.”
Critical Talks
During tense negotiations, Greece came perilously close to exiting the single currency area.
On the line lay both the country's destiny but also those harsh cutbacks demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those punitive conditions were put to a popular referendum, an action that threw the EU into a deeper existential crisis.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result then agree to a bailout package with creditors that proved to be more severe.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
The account of events has provoked anger and stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
