In a newly released autobiography, called Ithaki, the ex- premier Tsipras pulls no punches as he reflects on the turbulent period during Greece's debt drama.
A Controversial Choice
According to Tsipras's account, he selected that maverick economist Yanis Varoufakis to be his treasury head mainly because of the latter's worldwide fame and his “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis had his own motives that included promoting his publications as well as experimenting with his own game theories using Greece instead of genuinely fighting for the country's economic stability.
He explained that those talks to prevent insolvency were “not only a method to secure a better deal for the country. They were an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay both the country's destiny but also those harsh austerity measures required in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those punitive conditions were subjected to a public vote, an action which threw Europe into a deeper existential crisis.
Even though the referendum was won resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the covers of publications globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving creating a secondary currency and distributing vouchers to retirees, Tsipras knew it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras asserts how his former ally had proved himself to be “unfit for a deal demanding complex and sensitive management.”
He also claimed that his confrontational style made him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This account of events has provoked anger along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
