Within his freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the chaotic era during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, he chose the unorthodox economist Yanis Varoufakis to be the treasury head primarily due to the latter's worldwide fame and his “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges that his finance chief had a personal agenda which involved advancing Varoufakis's books as well as testing out his theories using Greece instead of genuinely advocating its financial survival.
He noted that those negotiations to prevent bankruptcy became “not just a method of achieving improved terms for the country. They were a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, the country found itself perilously on the brink of leaving the eurozone.
At stake lay not only the country's future and the punishing cutbacks demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the punitive conditions were put to a popular referendum, an action which threw Europe into further crisis of identity.
Even though the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome then agree to a bailout package with creditors which proved to be tougher.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate management.”
He also wrote that his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
