Within his freshly published autobiography, titled Ithaki, the ex- premier Tsipras does not hold back while he examines that chaotic era of Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, he chose that unorthodox academic Yanis Varoufakis as the finance minister primarily due to the latter's worldwide fame along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, in reality, more like a star rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis possessed his own motives which included advancing his books and testing out his own economic models using the nation rather than truly fighting for its financial survival.
He noted how those discussions to stave off insolvency became “not only a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of his economic theories.”
Critical Talks
During volatile negotiations, Greece came dangerously close to exiting the single currency area.
At stake was both Greece's future but also those harsh austerity policies demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating conditions were put to a public vote, an action which plunged Europe into a further crisis of identity.
Although the vote was won decisively by voters against the cuts, the prime minister had little option but to reject its outcome and agree to a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving creating a parallel currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author asserts that Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive handling.”
He also wrote that his aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
