Within his recently unveiled autobiography, named Ithaki, the ex- prime minister Tsipras does not hold back while he examines that chaotic era during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose that unorthodox academic Yanis Varoufakis to be the finance minister largely due to his worldwide fame and his “extremely attractive” skills as a public orator.
“He was, actually, more of a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his game theories using the nation rather than truly fighting for its economic stability.
He explained how those negotiations to stave off insolvency became “not only a way of achieving improved terms for the country. They were a test, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was not only the country's future but also the harsh austerity policies required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and Reversal
In July 2015, those excoriating conditions were put to a popular referendum, a move which plunged the EU into a deeper crisis of identity.
Although the referendum was won decisively by those against austerity, Tsipras was forced to reject its outcome then negotiate a bailout package from creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan involving establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew it was game over questioning him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes that his former ally had proved himself “unsuitable for a deal that required intricate and delicate management.”
He also wrote that Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
