In a newly released personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back while he examines the chaotic era of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, he chose the unorthodox academic Yanis Varoufakis to be the finance minister primarily because of his global profile and his very persuasive abilities when it came to communicator.
“He was, truthfully, more like a celebrity and less of an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader alleges that his finance chief had a personal agenda which involved promoting Varoufakis's books and experimenting with his theories on Greece instead of genuinely advocating its economic stability.
Tsipras noted how the talks to prevent insolvency were “not only a way to secure improved terms for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was not only the country's destiny and the harsh austerity policies demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those excoriating conditions were put to a popular referendum, an action which plunged Europe into a further crisis of identity.
Even though the vote was carried decisively by those who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, Tsipras knew it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras also wrote that his confrontational approach made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were advocating Grexit.
This retelling of history has been met with fury and shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
