In a freshly published memoir, called Ithaki, the ex- prime minister Tsipras does not hold back as he revisits the chaotic era during Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, Tsipras selected the maverick economist Yanis Varoufakis to be the treasury head mainly due to his international reputation along with Varoufakis's very persuasive skills as a speaker.
“He was, in reality, more like a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis possessed a personal motives that involved advancing his publications and experimenting with his game theories on Greece rather than truly fighting for the country's financial survival.
He wrote that the negotiations to avoid insolvency were “not just a way of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Talks
During tense negotiations, Greece came perilously on the brink of exiting the single currency area.
At stake lay both Greece's future and those harsh austerity measures required in return for financial aid from international creditors.
Failed Alternatives
Efforts to find funds from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, a move that plunged the EU into deeper existential crisis.
Even though the vote was won decisively by those who opposed austerity, Tsipras was forced but to ignore the result then agree to a bailout package with foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
When the minister proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to retirees, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and delicate management.”
Tsipras also wrote how Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with anger along with shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
