Within his newly released personal account, named Ithaki, the ex- leader Tsipras pulls no punches as he examines the turbulent period of Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, he selected that unorthodox economist Yanis Varoufakis as the finance minister primarily because of the latter's global profile along with his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras suggests how his finance chief had his own motives which involved advancing his publications as well as testing out his game theories using the nation rather than truly advocating the country's economic stability.
He explained that those discussions to avoid insolvency were “not just a way to secure improved terms for the country. They were an experiment, a monumental opportunity to prove the truth of his theories.”
High-Stakes Talks
Amid volatile negotiations, the country came dangerously close to exiting the single currency area.
On the line lay both Greece's destiny and the punishing austerity measures demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, a move that plunged the EU into a further existential crisis.
Although the vote was won resoundingly by voters against austerity, Tsipras was forced to ignore the result and negotiate a bailout package with creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
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 that it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author asserts how his former ally had proved himself to be “unfit for a deal that required complex and delicate handling.”
He further claimed that Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
