Within his newly released autobiography, named Ithaki, the former premier Tsipras pulls no punches as he reflects on that turbulent period of Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis as his finance minister primarily due to his global profile and his very persuasive skills as a communicator.
“In reality, he was, actually, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief possessed his own motives that included advancing his books and experimenting with his own game theories on Greece instead of genuinely fighting for its economic stability.
Tsipras noted that the discussions to stave off insolvency were “not just a method to secure improved terms for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During volatile discussions, the country came perilously close to exiting the eurozone.
On the line lay both Greece's destiny and those severe austerity measures demanded in return for bailout funds by international creditors.
Failed Options
Efforts to find funds from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action that plunged Europe into deeper crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a parallel currency and issuing coupons to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Enduring Criticism
In the book, the author concludes that his former ally demonstrated himself “unfit for a deal demanding complex and delicate handling.”
Tsipras also claimed how his confrontational style left him more and more alone among peers, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
