Within his newly released autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits the chaotic era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, Tsipras selected that maverick academic Yanis Varoufakis to be his treasury head mainly because of the latter's worldwide fame and his “extremely attractive” skills as a public orator.
“He was, in reality, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief had his own agenda which included advancing Varoufakis's publications as well as experimenting with his economic models using Greece rather than truly fighting for the country's financial survival.
He noted how those talks to avoid insolvency were “not just a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's ideas.”
Critical Negotiations
Amid volatile negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's destiny but also those punishing austerity measures required in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to find funds elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, a move that plunged Europe into further existential crisis.
Although the vote was carried decisively by those who opposed austerity, the prime minister was forced but to ignore the result then agree to a rescue deal from foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency and distributing coupons to pensioners, Tsipras knew that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further claimed how Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
