In a freshly published personal account, named Ithaki, the former leader Tsipras pulls no punches while he reflects on the turbulent era during Greece's financial crisis.
A Controversial Choice
According to Tsipras's recollections, he appointed the unorthodox economist Yanis Varoufakis to be the treasury head mainly because of the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis had his own motives that included promoting his books and testing out his own theories using the nation rather than truly advocating its economic stability.
He noted that the negotiations to prevent bankruptcy were “not just a method to secure improved terms for the country. They became a test, an historic chance to demonstrate the validity of his economic theories.”
Critical Talks
Amid tense negotiations, Greece came dangerously close to leaving the eurozone.
On the line was both the country's destiny and the harsh austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, an action which plunged Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by voters against austerity, Tsipras was forced to reject its outcome then agree to a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to retirees, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement that required complex and sensitive handling.”
He further wrote how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
