Within his recently unveiled autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits the chaotic period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, he selected the unorthodox economist Yanis Varoufakis to be his treasury head largely because of the latter's international reputation and his “extremely attractive” skills when it came to communicator.
“He was, actually, more like a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis had a personal motives which involved advancing his publications as well as testing out his theories using the nation instead of genuinely fighting for the country's economic stability.
He wrote that the discussions to avoid bankruptcy were “not only a method of achieving a better deal for the country. They became an experiment, an historic chance to prove the validity of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself perilously close to leaving the single currency area.
On the line was not only the country's destiny and the harsh cutbacks required in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, the harsh bailout terms were put to a public vote, a move which threw Europe into further crisis of identity.
Although the vote was carried resoundingly by voters against austerity, Tsipras had little option to reject its outcome and agree to a bailout package with creditors which proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency and distributing vouchers to retirees, the leader knew it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal that required complex and sensitive handling.”
He further claimed how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
