In a recently unveiled personal account, titled Ithaki, the former premier Tsipras does not hold back as he examines the turbulent period during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, Tsipras chose that unorthodox economist Yanis Varoufakis as his treasury head largely due to his worldwide fame along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief possessed his own motives that involved advancing Varoufakis's publications and testing out his own economic models on Greece instead of truly fighting for its financial survival.
Tsipras wrote that the discussions to prevent bankruptcy became “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself dangerously close to leaving the eurozone.
On the line lay both the country's destiny and those punishing austerity policies required in return for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the excoriating conditions were subjected to a public vote, a move which threw the EU into further crisis of identity.
Even though the referendum was carried resoundingly by those against the cuts, Tsipras was forced to ignore the result and agree to a rescue deal with creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the covers of magazines globally … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate handling.”
He further claimed that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
The account of events has been met with fury along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
