In a recently unveiled memoir, named Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the turbulent era of Greece's debt drama.
A Controversial Choice
In Tsipras's account, Tsipras appointed that unorthodox economist Yanis Varoufakis as the finance minister largely because of his global profile along with his “extremely attractive” skills as a communicator.
“He was, truthfully, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests how his finance chief had a personal motives that involved promoting his publications and testing out his economic models using the nation rather than genuinely advocating the country's economic stability.
He explained that the discussions to avoid bankruptcy were “not just a way to secure improved terms for the country. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line lay not only the country's destiny and the harsh austerity policies required in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the harsh conditions were subjected to a public vote, a move that threw the EU into deeper crisis of identity.
Even though the vote was won decisively by voters against austerity, the prime minister was forced to reject its outcome then agree to a rescue deal with foreign lenders which proved to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to pensioners, Tsipras knew that it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
He also claimed that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, while helped hawks that were advocating Grexit.
This account of history has been met with anger and stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
