Within his freshly published personal account, called Ithaki, the ex- leader Tsipras does not hold back while he reflects on the turbulent period during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's recollections, he selected that maverick academic Yanis Varoufakis to be the finance minister largely due to his worldwide fame along with his “extremely attractive” skills when it came to speaker.
“He was, in reality, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader claims that his finance chief had his own agenda that involved advancing his books as well as experimenting with his theories using the nation rather than truly fighting for the country's economic stability.
Tsipras explained that the talks to avoid insolvency were “not only a method to secure a better deal for the country. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
During volatile negotiations, the country found itself perilously close to leaving the single currency area.
At stake was both the country's future but also those harsh austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh conditions were put to a public vote, a move that threw the EU into a further existential crisis.
Even though the vote was won decisively by voters who opposed austerity, Tsipras had little option to ignore the result then agree to a rescue deal with creditors which proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
After the minister outlined a backup strategy that included creating a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, the author asserts that Varoufakis demonstrated himself “unfit for a deal demanding complex and delicate handling.”
He further claimed that his aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
This account of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
