Within his freshly published memoir, titled Ithaki, the former leader Tsipras pulls no punches as he revisits the chaotic period of Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, Tsipras chose the unorthodox academic Yanis Varoufakis as the treasury head largely because of his global profile and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, in reality, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras claims how his finance chief had his own agenda which involved advancing his books as well as testing out his own economic models using the nation instead of truly advocating its financial survival.
He wrote how the negotiations to prevent bankruptcy became “not only a method of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the validity of his ideas.”
Critical Negotiations
Amid tense negotiations, Greece came perilously close to leaving the eurozone.
On the line was not only the country's future and those severe austerity measures required in return for financial aid by international creditors.
Failed Options
Efforts to secure funds from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those punitive conditions were subjected to a public vote, an action that threw the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome then agree to a rescue deal with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts how his former ally demonstrated himself “unfit for a deal that required intricate and delicate handling.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone among peers, endangered the country, while assisted hardliners who were advocating Grexit.
The account of history has been met with fury along with shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.
