In a newly released autobiography, named Ithaki, the ex- leader Tsipras does not hold back while he reflects on the turbulent period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, Tsipras chose that maverick economist Yanis Varoufakis as his treasury head mainly due to his global profile and Varoufakis's very persuasive abilities as a speaker.
“He was, truthfully, more like a personality rather than an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader claims how his finance chief possessed a personal agenda that involved advancing his publications and experimenting with his game theories on the nation rather than truly fighting for its economic stability.
He explained that the negotiations to prevent bankruptcy became “not just a way to secure improved terms for Greece. They were a test, an historic opportunity to prove the validity of his theories.”
High-Stakes Talks
During volatile negotiations, Greece came dangerously on the brink of exiting the eurozone.
At stake lay both the country's destiny but also those harsh austerity policies required in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were subjected to a public vote, a move that threw Europe into deeper existential crisis.
Even though the vote was won decisively by those against austerity, Tsipras had little option to reject its outcome and negotiate a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author concludes that Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were pushing for Grexit.
This retelling of events has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
