In a recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras pulls no punches while he examines the turbulent era of Greece's debt drama.
A Controversial Choice
In Tsipras's account, he appointed the unorthodox economist Yanis Varoufakis as the treasury head largely due to the latter's worldwide fame and Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, actually, more of a star rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief had a personal motives that involved advancing his publications as well as testing out his theories using the nation rather than genuinely advocating its financial survival.
He explained how those talks to stave off insolvency became “not only a method to secure a better deal for the country. They became an experiment, an historic chance to prove the validity of his theories.”
Critical Negotiations
During volatile discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line lay both Greece's destiny but also those severe austerity measures required in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those harsh bailout terms were put to a popular referendum, an action that threw the EU into a further existential crisis.
Although the vote was carried resoundingly by voters against the cuts, the prime minister had little option but to ignore the result then agree to a rescue deal with creditors which proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency and issuing vouchers to retirees, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts that his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras also wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, while helped hawks who were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
