Within his freshly published memoir, named Ithaki, the ex- premier Tsipras spares no criticism while he revisits the chaotic period of Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, he appointed the maverick economist Yanis Varoufakis as his treasury head mainly because of the latter's worldwide fame and his highly compelling skills as a communicator.
“He was, truthfully, more of a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras suggests how his finance chief possessed his own agenda that involved advancing Varoufakis's books as well as experimenting with his economic models on Greece instead of truly advocating the country's economic stability.
Tsipras noted that those discussions to stave off insolvency were “not only a method to secure a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself perilously close to exiting the single currency area.
On the line was both Greece's future and the harsh cutbacks required in return for financial aid from international creditors.
Failed Options
Attempts to secure financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the excoriating conditions were put to a popular referendum, a move which threw Europe into deeper crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome then negotiate a bailout package from creditors which proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
He further claimed how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
This account of events has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
