In a freshly published personal account, named Ithaki, the former prime minister Tsipras pulls no punches while he revisits the chaotic era of Greece's debt drama.
A Controversial Choice
According to Tsipras's version, he chose the unorthodox academic Yanis Varoufakis as his treasury head largely due to the latter's international reputation and Varoufakis's highly compelling skills as a communicator.
“In reality, he was, actually, more of a star rather than an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief possessed a personal motives which involved promoting his books as well as experimenting with his own economic models using the nation instead of truly advocating the country's financial survival.
He wrote how the negotiations to avoid bankruptcy were “not just a method of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
During volatile discussions, Greece found itself dangerously close to exiting the eurozone.
At stake lay both Greece's destiny but also the punishing austerity measures required in return for financial aid from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, an action which threw Europe into deeper crisis of identity.
Even though the vote was won decisively by those who opposed austerity, the prime minister was forced to reject its outcome then agree to a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author asserts how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and delicate handling.”
Tsipras further wrote how his aggressive style made him more and more alone among peers, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
The retelling of events has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
