In a freshly published personal account, named Ithaki, the ex- premier Tsipras does not hold back as he revisits that turbulent era of Greece's economic turmoil.
A Controversial Choice
In the ex-PM's account, he selected that maverick academic Yanis Varoufakis as the finance minister largely due to the latter's international reputation along with his very persuasive skills when it came to public orator.
“He was, actually, more like a star and less of an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief had a personal agenda that involved advancing his books and testing out his own game theories on the nation instead of genuinely fighting for its financial survival.
He explained how the negotiations to prevent bankruptcy were “not only a method to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Talks
During tense discussions, the country came perilously close to leaving the eurozone.
At stake was not only Greece's destiny and the punishing austerity measures required in return for rescue loans from international creditors.
Failed Alternatives
Attempts to find financing elsewhere, including an urgent plea to Russia to purchase 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 his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, a move which threw the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister had little option but to ignore the result and negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy involving creating a parallel currency and issuing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author asserts that his former ally had proved himself “unfit for a deal demanding complex and sensitive handling.”
He further claimed that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.
The retelling of history has provoked fury along with shock in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
