In a freshly published autobiography, called Ithaki, the former leader Tsipras pulls no punches while he examines the chaotic period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis to be his finance minister mainly because of his international reputation along with his very persuasive abilities as a public orator.
“He was, actually, more of a star rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis possessed a personal agenda that involved promoting Varoufakis's books and experimenting with his own economic models on the nation rather than truly fighting for its economic stability.
He explained how the talks to stave off insolvency were “not just a way to secure a better deal for Greece. They were a test, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
During rollercoaster negotiations, the country came dangerously on the brink of exiting the single currency area.
On the line was both Greece's future but also the harsh austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Even though the referendum was carried resoundingly by voters against the cuts, the prime minister had little option but to reject its outcome and agree to a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to retirees, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.
The account of history has been met with anger along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
