Within his freshly published autobiography, titled Ithaki, the former premier Tsipras pulls no punches while he revisits that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, he selected the maverick economist Yanis Varoufakis as the treasury head largely because of his global profile and his “extremely attractive” abilities as a communicator.
“He was, actually, more like a star rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims that Varoufakis had a personal motives that involved promoting his books and testing out his theories using the nation rather than genuinely fighting for the country's financial survival.
He explained that those talks to avoid insolvency were “not just a method to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During tense discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay both the country's destiny but also those punishing austerity policies required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move which threw Europe into deeper existential crisis.
Although the referendum was carried decisively by those against the cuts, Tsipras was forced to reject its outcome then agree to a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who drew media attention, who graced the covers of publications globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader said he realised that it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes that his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive management.”
Tsipras also claimed that his aggressive approach made him increasingly isolated with colleagues, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
The account of events has provoked anger along with shock among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
