Within his newly released memoir, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he examines that turbulent period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, Tsipras selected that unorthodox economist Yanis Varoufakis to be his treasury head primarily because of the latter's worldwide fame and his highly compelling abilities as a speaker.
“He was, in reality, more of a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief had a personal motives that involved promoting Varoufakis's books as well as experimenting with his own game theories using the nation rather than genuinely advocating the country's economic stability.
He noted that those discussions to avoid bankruptcy were “not only a method of achieving improved terms for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
Amid volatile discussions, the country found itself perilously on the brink of exiting the single currency area.
On the line lay both Greece's destiny and those severe austerity measures demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the punitive conditions were put to a public vote, an action which plunged Europe into further existential crisis.
Even though the referendum was carried resoundingly by those against austerity, Tsipras was forced but to ignore the result and agree to a bailout package with creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, the author concludes how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and delicate management.”
Tsipras also wrote how his confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were pushing for Grexit.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
