In a freshly published memoir, called Ithaki, the ex- prime minister Tsipras does not hold back as he revisits the turbulent period during Greece's debt drama.
A Controversial Choice
In Tsipras's account, he appointed the unorthodox academic Yanis Varoufakis as the treasury head primarily because of the latter's international reputation along with his “extremely attractive” skills as a public orator.
“In reality, he was, in reality, more like a personality rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges that his finance chief possessed his own motives which involved promoting his books and experimenting with his theories using Greece instead of truly advocating its financial survival.
Tsipras wrote that the negotiations to prevent bankruptcy became “not just a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
During rollercoaster discussions, the country came perilously close to exiting the eurozone.
At stake was not only the country's destiny but also the punishing austerity policies demanded in return for financial aid from foreign lenders.
Failed Options
Attempts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action that plunged Europe into deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result and negotiate a bailout package from creditors which turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving creating a parallel currency and issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
He further wrote that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
