Within his recently unveiled memoir, called Ithaki, the former leader Tsipras does not hold back as he revisits that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, he chose the unorthodox economist Yanis Varoufakis as the treasury head primarily because of the latter's worldwide fame along with Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, in reality, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader claims how his finance chief possessed a personal agenda that involved advancing his books and experimenting with his own theories on the nation rather than truly advocating its financial survival.
Tsipras noted how those discussions to prevent insolvency were “not just a method of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense discussions, the country came perilously on the brink of exiting the eurozone.
On the line was both the country's destiny and the harsh austerity measures required in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, an action that threw the EU into further existential crisis.
Although the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome and negotiate a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself “unfit for a deal demanding complex and sensitive management.”
He further wrote that his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with shock among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
