In a freshly published personal account, titled Ithaki, the ex- leader Tsipras pulls no punches while he examines the chaotic era during Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, Tsipras selected the maverick academic Yanis Varoufakis as his finance minister mainly because of his worldwide fame and Varoufakis's “extremely attractive” abilities as a speaker.
“He was, in reality, more like a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief had his own motives that involved advancing his books as well as experimenting with his economic models using the nation rather than truly advocating its financial survival.
Tsipras explained that the discussions to stave off insolvency became “not just a method of achieving improved terms for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's theories.”
High-Stakes Talks
During volatile negotiations, the country found itself perilously on the brink of leaving the single currency area.
On the line was both Greece's destiny and those severe cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move which threw Europe into a deeper crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed the cuts, the prime minister had little option but to reject its outcome and agree to a rescue deal from creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author asserts how his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate handling.”
He further claimed that his aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of events has been met with anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
