In a recently unveiled memoir, titled Ithaki, the ex- leader Tsipras does not hold back while he revisits that chaotic era during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras chose the maverick economist Yanis Varoufakis to be the treasury head primarily because of his worldwide fame along with Varoufakis's very persuasive abilities as a communicator.
“He was, truthfully, more like a personality and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis had a personal motives that included advancing his books as well as testing out his own game theories on the nation rather than genuinely fighting for the country's economic stability.
He explained that the negotiations to avoid insolvency became “not just a method to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of his economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself perilously close to leaving the single currency area.
At stake was both Greece's future and those severe cutbacks demanded in return for bailout funds by international creditors.
Failed Alternatives
Attempts to find financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
In July 2015, the excoriating bailout terms were put to a public vote, an action which plunged the EU into a deeper existential crisis.
Even though the vote was won resoundingly by voters against austerity, the prime minister had little option to ignore the result then agree to a bailout package from creditors which turned out to be tougher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis 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 the minister outlined a backup strategy that included establishing a secondary currency and issuing vouchers to retirees, Tsipras knew that it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive handling.”
He also claimed how his aggressive style made him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
This retelling of history has provoked fury along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
