Within his recently unveiled autobiography, named Ithaki, the ex- premier Tsipras pulls no punches as he revisits the turbulent period of Greece's financial crisis.
A Controversial Choice
As per Tsipras's account, Tsipras appointed that maverick academic Yanis Varoufakis to be the finance minister largely because of the latter's international reputation along with his very persuasive abilities as a speaker.
“In reality, he was, in reality, more of a star and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader claims that his finance chief possessed his own agenda which involved promoting Varoufakis's books and testing out his theories using the nation rather than genuinely advocating the country's financial survival.
Tsipras noted how those talks to prevent insolvency became “not only a way of achieving improved terms for Greece. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
During volatile negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line lay both Greece's destiny but also those severe cutbacks required in exchange for rescue loans from foreign lenders.
Failed Options
Efforts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, an action which threw the EU into a deeper crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes how his former ally had proved himself to be “unsuitable for an agreement that required complex and delicate handling.”
He further claimed that his confrontational style made him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
This account of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
