In a recently unveiled memoir, titled Ithaki, the ex- premier Tsipras does not hold back while he revisits the chaotic period during Greece's debt drama.
A Controversial Choice
In Tsipras's version, he chose that unorthodox academic Yanis Varoufakis as his treasury head primarily due to his worldwide fame along with his very persuasive skills as a speaker.
“He was, in reality, more of a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis possessed his own motives that included promoting his books as well as experimenting with his economic models using the nation rather than genuinely advocating its financial survival.
He noted that the discussions to stave off bankruptcy became “not only a way to secure a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of his economic theories.”
Critical Talks
Amid volatile discussions, the country came perilously on the brink of exiting the single currency area.
At stake was both the country's future and the severe austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a public vote, a move which threw the EU into a further crisis of identity.
Even though the vote was won decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister outlined a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself “unfit for a deal demanding intricate and delicate handling.”
He further claimed how Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while assisted hardliners who were advocating Grexit.
The retelling of history has been met with fury along with shock in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
