In a freshly published personal account, called Ithaki, the former prime minister Tsipras pulls no punches while he examines the chaotic era during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, he chose that maverick economist Yanis Varoufakis as the treasury head mainly because of his worldwide fame along with his “extremely attractive” abilities as a communicator.
“In reality, he was, actually, more of a star and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis possessed his own agenda which involved advancing Varoufakis's books and experimenting with his own game theories on the nation instead of genuinely advocating the country's financial survival.
He explained how those negotiations to stave off bankruptcy were “not just a way of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay both Greece's future and the severe austerity policies required in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, a move that plunged Europe into a deeper crisis of identity.
Even though the vote was won decisively by those who opposed austerity, Tsipras had little option but to ignore the result and negotiate a bailout package with foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
After the minister outlined a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts how Varoufakis had proved himself “unfit for an agreement demanding complex and sensitive handling.”
He further wrote how his aggressive style left him increasingly isolated among peers, put Greece at risk, while helped hawks who were pushing for Grexit.
The account of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
