Within his newly released personal account, named Ithaki, the former premier Tsipras pulls no punches while he revisits the turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's version, he selected that maverick economist Yanis Varoufakis to be his finance minister largely because of the latter's global profile and Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more like a personality rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader claims that his finance chief possessed his own agenda that involved advancing his books and testing out his game theories on Greece rather than truly fighting for the country's economic stability.
Tsipras noted how those discussions to avoid bankruptcy became “not just a way to secure improved terms for the country. They were a test, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid tense discussions, Greece came dangerously close to leaving the eurozone.
On the line lay not only Greece's destiny but also those harsh austerity measures required in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the excoriating conditions were subjected to a public vote, a move that plunged Europe into a further existential crisis.
Although the referendum was carried decisively by those against the cuts, Tsipras was forced to ignore the result and negotiate a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”
He further wrote how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
This retelling of events has provoked anger along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
