Within his recently unveiled autobiography, called Ithaki, the ex- leader Tsipras does not hold back while he reflects on the turbulent era during Greece's debt drama.
An Unconventional Choice
According to Tsipras's recollections, Tsipras chose that maverick academic Yanis Varoufakis to be the treasury head primarily due to the latter's worldwide fame along with Varoufakis's “extremely attractive” skills as a public orator.
“He was, truthfully, more of a celebrity rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader suggests that his finance chief had a personal motives which involved promoting Varoufakis's publications and testing out his own economic models using the nation instead of genuinely advocating the country's economic stability.
He wrote how those talks to avoid insolvency were “not only a way to secure a better deal for the country. They became an experiment, an historic chance to prove the validity of his theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself perilously close to leaving the single currency area.
On the line lay not only Greece's destiny and the punishing austerity policies required in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to find funds from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, a move which plunged Europe into further crisis of identity.
Even though the vote was won decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome then agree to a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency and issuing coupons to pensioners, the leader knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
The account of events has been met with anger along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
