Within his recently unveiled autobiography, named Ithaki, the former premier Tsipras does not hold back while he revisits the turbulent period of Greece's debt drama.
A Controversial Choice
In the ex-PM's account, he chose the unorthodox economist Yanis Varoufakis to be the finance minister largely due to his worldwide fame along with his highly compelling abilities as a speaker.
“He was, truthfully, more like a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras claims that Varoufakis had his own agenda which involved advancing Varoufakis's publications and experimenting with his theories using the nation rather than truly advocating the country's financial survival.
Tsipras noted how the discussions to prevent insolvency became “not just a method of achieving a better deal for the country. They were an experiment, an historic chance to prove the truth of his ideas.”
Critical Talks
During volatile negotiations, Greece found itself perilously on the brink of exiting the eurozone.
At stake was not only Greece's destiny and those punishing austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were put to a public vote, an action which threw Europe into a deeper existential crisis.
Even though the referendum was carried decisively by those who opposed the cuts, the prime minister was forced to reject its outcome then agree to a rescue deal with foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included creating a secondary currency and distributing vouchers to pensioners, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive handling.”
He further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
