Within his recently unveiled memoir, titled Ithaki, the ex- leader Tsipras pulls no punches while he reflects on the chaotic period of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, Tsipras selected that unorthodox academic Yanis Varoufakis as the finance minister mainly due to the latter's international reputation and Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief possessed a personal motives that involved promoting Varoufakis's books as well as testing out his economic models on the nation instead of genuinely fighting for the country's financial survival.
Tsipras explained that the negotiations to stave off bankruptcy were “not just a method to secure improved terms for the country. They became a test, an historic chance to prove the validity of his theories.”
Critical Negotiations
Amid volatile negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line lay both Greece's future and the punishing cutbacks required in return for rescue loans by foreign lenders.
Failed Options
Attempts to find funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move that threw the EU into a deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be tougher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, 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 involving establishing a secondary currency and issuing vouchers to pensioners, Tsipras knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes that his former ally had proved himself “unfit for a deal that required complex and delicate management.”
Tsipras further claimed that his confrontational style made him more and more alone among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
