In a newly released autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism while he examines the chaotic period of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, he chose that unorthodox economist Yanis Varoufakis as the treasury head mainly because of his global profile along with Varoufakis's very persuasive skills as a communicator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief had his own motives which involved advancing Varoufakis's books and experimenting with his game theories using Greece rather than truly advocating its financial survival.
He noted that those negotiations to avoid insolvency were “not only a method of achieving improved terms for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself perilously on the brink of leaving the single currency area.
On the line was not only the country's destiny and the harsh austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Attempts to find financing elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move that plunged Europe into a further existential crisis.
Although the referendum was won decisively by voters against austerity, the prime minister had little option but to ignore the result and agree to a bailout package from creditors which proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts how his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive management.”
He further claimed how his aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for Grexit.
This account of history has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
