Within his freshly published personal account, called Ithaki, the former premier Tsipras pulls no punches while he reflects on that turbulent era of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's recollections, Tsipras chose the maverick academic Yanis Varoufakis as the treasury head largely because of the latter's global profile along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a star rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis possessed a personal agenda which included promoting his publications and experimenting with his theories on the nation instead of genuinely fighting for its financial survival.
Tsipras wrote that the discussions to avoid bankruptcy became “not just a way of achieving improved terms for Greece. They were a test, a monumental chance to prove the validity of his ideas.”
Critical Negotiations
Amid tense discussions, Greece came dangerously close to leaving the eurozone.
On the line lay not only Greece's destiny but also those harsh cutbacks required in return for rescue loans by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a popular referendum, an action which threw Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister was forced to ignore the result and negotiate a bailout package with foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, Tsipras knew it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive management.”
He further wrote how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
