In a freshly published memoir, named Ithaki, the former premier Tsipras pulls no punches as he revisits the turbulent period of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras selected the unorthodox economist Yanis Varoufakis as his treasury head primarily due to the latter's international reputation along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, in reality, more like a personality and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader claims how his finance chief possessed a personal motives which involved promoting his books and experimenting with his theories on the nation rather than genuinely fighting for its financial survival.
Tsipras noted how those talks to prevent bankruptcy were “not only a way to secure improved terms for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid volatile negotiations, the country found itself perilously close to exiting the eurozone.
On the line lay not only Greece's destiny but also those punishing austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating conditions were put to a popular referendum, an action which threw the EU into deeper crisis of identity.
Although the vote was carried decisively by those against the cuts, Tsipras was forced to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras also wrote that Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
This retelling of events has been met with anger and shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
