Within his recently unveiled autobiography, called Ithaki, the ex- leader Tsipras pulls no punches while he examines the chaotic period of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he appointed that maverick economist Yanis Varoufakis as the treasury head mainly because of the latter's international reputation along with his very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a star and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief had his own motives which included advancing his books as well as experimenting with his theories on Greece instead of truly advocating the country's financial survival.
Tsipras noted that the negotiations to avoid bankruptcy became “not just a way to secure a better deal for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came dangerously on the brink of leaving the single currency area.
On the line was both the country's destiny and the punishing austerity policies required in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, an action which plunged Europe into a further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced but to reject its outcome and negotiate a rescue deal from foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving creating a parallel currency and distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that his former ally had proved himself “unfit for an agreement that required intricate and delicate handling.”
He also wrote that his confrontational style made him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
The retelling of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
