In a recently unveiled memoir, titled Ithaki, the ex- premier Tsipras pulls no punches as he examines the turbulent era during Greece's financial crisis.
A Controversial Choice
In Tsipras's version, Tsipras selected that unorthodox academic Yanis Varoufakis as his treasury head largely because of the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges how his finance chief possessed his own motives which involved advancing Varoufakis's books as well as experimenting with his theories using the nation rather than genuinely fighting for its economic stability.
He explained how the talks to avoid bankruptcy became “not just a way to secure a better deal for Greece. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously close to exiting the single currency area.
On the line lay both the country's destiny and those severe cutbacks required in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and U-Turn
That summer, the harsh conditions were subjected to a popular referendum, a move which plunged Europe into a deeper crisis of identity.
Although the referendum was won decisively by voters against austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal from foreign lenders which proved to be tougher.
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 figure who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included creating a parallel currency and distributing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras further wrote how his aggressive approach made him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This account of history has provoked anger along with shock in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
