Within his recently unveiled autobiography, titled Ithaki, the former leader Tsipras pulls no punches while he reflects on that chaotic era of Greece's debt drama.
A Controversial Choice
In the ex-PM's account, Tsipras selected that unorthodox economist Yanis Varoufakis to be the finance minister mainly due to his international reputation along with his highly compelling skills as a communicator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed his own motives which included promoting Varoufakis's publications and testing out his game theories using Greece rather than genuinely fighting for the country's economic stability.
He noted that the discussions to prevent bankruptcy became “not only a way to secure improved terms for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself perilously close to exiting the single currency area.
On the line was not only the country's destiny but also those punishing austerity measures required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, an action which plunged Europe into a further existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result and agree to a bailout package from creditors which proved to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally had proved himself “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras also wrote how his aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has been met with anger along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
