In a newly released autobiography, called Ithaki, the ex- premier Tsipras does not hold back as he reflects on the chaotic era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras appointed the maverick economist Yanis Varoufakis as his treasury head primarily due to his worldwide fame along with his very persuasive abilities when it came to communicator.
“He was, in reality, more of a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis possessed a personal agenda that included advancing his publications as well as experimenting with his theories using Greece instead of genuinely advocating its economic stability.
He noted how those negotiations to stave off bankruptcy became “not only a method to secure improved terms for the country. They became a test, an historic chance to demonstrate the validity of his economic theories.”
Critical Negotiations
During volatile discussions, Greece found itself dangerously on the brink of exiting the single currency area.
At stake lay both Greece's future and those severe cutbacks demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move that threw Europe into deeper crisis of identity.
Although the vote was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result then agree to a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy that included creating a parallel currency and distributing vouchers to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, the author concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He further claimed that his confrontational approach made him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The account of history has provoked anger and shock in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
