Within his newly released personal account, titled Ithaki, the former leader Tsipras pulls no punches as he examines the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, he selected the maverick economist Yanis Varoufakis as his finance minister primarily due to his worldwide fame along with his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more of a celebrity and less of an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims that his finance chief possessed a personal motives that included promoting his books and experimenting with his own theories on Greece rather than truly advocating the country's economic stability.
He wrote that those discussions to avoid insolvency became “not just a method to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.
On the line was not only Greece's destiny but also those harsh austerity policies demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the punitive bailout terms were put to a public vote, a move that plunged the EU into further existential crisis.
Even though the referendum was carried decisively by voters against austerity, the prime minister had little option to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
After the minister outlined a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was game over questioning him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
He also claimed how Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
This account of events has been met with fury and stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
