Within his freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras does not hold back while he examines that turbulent era during Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, Tsipras selected the unorthodox academic Yanis Varoufakis as the finance minister mainly due to the latter's worldwide fame and his highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims that his finance chief had his own motives which involved promoting his books and testing out his own game theories using the nation rather than truly advocating its economic stability.
Tsipras wrote that the discussions to avoid bankruptcy were “not only a way to secure improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
During volatile discussions, Greece came perilously close to leaving the eurozone.
On the line was not only Greece's destiny and the severe austerity policies demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the punitive bailout terms were put to a public vote, a move which plunged Europe into a further existential crisis.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal from foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as issuing coupons to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further claimed that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were advocating Grexit.
This account of events has been met with fury along with shock in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
