Within his recently unveiled personal account, titled Ithaki, the ex- leader Tsipras does not hold back while he examines the chaotic period during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras chose the unorthodox academic Yanis Varoufakis to be his treasury head largely due to the latter's global profile and his highly compelling skills when it came to speaker.
“He was, actually, more of a star rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief possessed a personal motives which included advancing Varoufakis's books and testing out his own economic models using Greece instead of genuinely advocating its financial survival.
He explained that the negotiations to avoid insolvency were “not only a method of achieving improved terms for Greece. They became a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself dangerously close to exiting the single currency area.
At stake lay both the country's future but also those severe cutbacks demanded in exchange for financial aid by international creditors.
Failed Options
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, an action that threw the EU into deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras had little option but to ignore the result and negotiate a bailout package with creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement that required complex and delicate management.”
He further claimed that his confrontational approach made him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
