Within his newly released autobiography, named Ithaki, the former premier Tsipras pulls no punches as he examines the turbulent era of Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, Tsipras selected that maverick academic Yanis Varoufakis as his finance minister largely due to his international reputation along with his highly compelling skills when it came to public orator.
“He was, truthfully, more of a star and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader claims how his finance chief possessed a personal motives which included promoting Varoufakis's books and testing out his game theories using the nation instead of truly advocating its economic stability.
He noted how those discussions to avoid insolvency became “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, Greece came perilously close to exiting the eurozone.
At stake lay not only the country's future and the severe austerity policies required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, a move which threw Europe into deeper crisis of identity.
Although the referendum was won decisively by those against the cuts, the prime minister was forced to reject its outcome then agree to a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy that included creating a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts that Varoufakis had proved himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras further wrote that Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hawks that were advocating Grexit.
The retelling of events has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
