Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism as he examines the turbulent era of Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras chose that maverick economist Yanis Varoufakis to be his treasury head primarily due to the latter's international reputation and Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis had his own agenda that involved advancing his books and experimenting with his own theories using Greece instead of truly fighting for its economic stability.
He noted how those discussions to prevent insolvency were “not just a way of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During tense negotiations, Greece came dangerously on the brink of leaving the single currency area.
At stake lay not only Greece's destiny but also the severe cutbacks required in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action which threw the EU into deeper existential crisis.
Although the referendum was won resoundingly by voters who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal from foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a secondary currency and distributing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally had proved himself “unfit for a deal that required complex and sensitive handling.”
Tsipras also wrote how his aggressive style made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
