Within his freshly published autobiography, called Ithaki, the ex- prime minister Tsipras pulls no punches as he reflects on the turbulent period during Greece's debt drama.
A Controversial Appointment
In Tsipras's recollections, Tsipras selected the maverick economist Yanis Varoufakis to be his treasury head mainly because of the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, actually, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had a personal motives which included advancing Varoufakis's books as well as testing out his theories using the nation instead of genuinely advocating the country's financial survival.
He noted that the discussions to stave off insolvency were “not only a way of achieving a better deal for the country. They became a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During tense negotiations, the country came dangerously close to exiting the single currency area.
On the line lay both Greece's destiny but also those harsh austerity policies demanded in return for bailout funds by international creditors.
Failed Options
Efforts to secure funds from other sources, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, a move that threw Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result and negotiate a bailout package from foreign lenders that turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who drew media attention, who graced the front pages of magazines globally … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
He also wrote how his confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
This account of events has provoked fury along with shock among certain groups, while Varoufakis has kept a deafening silence on the matter.
