Within his freshly published autobiography, named Ithaki, the former premier Tsipras does not hold back while he revisits that turbulent period of Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, he selected that unorthodox academic Yanis Varoufakis as his treasury head primarily because of his worldwide fame along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras suggests how Varoufakis possessed a personal motives that involved advancing his publications and experimenting with his own game theories on Greece rather than genuinely advocating its economic stability.
He wrote how the talks to prevent insolvency were “not only a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
During tense discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line was both Greece's destiny but also the severe austerity measures required in return for bailout funds by foreign lenders.
Failed Options
Efforts to secure financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were put to a public vote, a move which threw Europe into further existential crisis.
Although the referendum was won decisively by voters against austerity, the prime minister had little option to reject its outcome and agree to a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts that his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras also wrote that his aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
The retelling of history has provoked anger and shock among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
