In a newly released memoir, titled Ithaki, the ex- leader Tsipras pulls no punches as he examines the chaotic period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, Tsipras appointed the maverick academic Yanis Varoufakis as the treasury head mainly because of his international reputation along with his “extremely attractive” skills as a speaker.
“He was, actually, more like a personality rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief had his own agenda that included promoting Varoufakis's publications and experimenting with his own game theories using Greece instead of truly advocating its financial survival.
Tsipras noted how the negotiations to prevent bankruptcy became “not just a method to secure improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of his theories.”
Critical Talks
Amid rollercoaster discussions, Greece came perilously on the brink of exiting the single currency area.
At stake lay not only the country's destiny and those harsh austerity policies demanded in return for bailout funds from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those harsh conditions were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, Tsipras had little option to reject its outcome then agree to a bailout package from creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader said he realised it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the book, the author asserts that Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and delicate management.”
He further claimed how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
This retelling of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
