Within his freshly published memoir, named Ithaki, the ex- premier Tsipras does not hold back as he reflects on the chaotic era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, he appointed the maverick economist Yanis Varoufakis as his treasury head largely because of the latter's global profile along with Varoufakis's highly compelling abilities as a public orator.
“He was, in reality, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis possessed a personal agenda that involved promoting his books and testing out his economic models using the nation rather than truly fighting for its financial survival.
He explained that those negotiations to prevent insolvency became “not just a way to secure a better deal for Greece. They became a test, an historic chance to demonstrate the validity of his ideas.”
High-Stakes Negotiations
During volatile discussions, the country came perilously close to exiting the eurozone.
On the line was not only Greece's destiny and those severe austerity policies required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the excoriating conditions were put to a popular referendum, an action that threw the EU into a further existential crisis.
Even though the referendum was won resoundingly by those against austerity, Tsipras had little option to reject its outcome then agree to a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, the leader knew that it was game over and asked him: “Are you serious?”
Enduring Rebuke
In the book, the author concludes that his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate handling.”
Tsipras further claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were pushing for Grexit.
This retelling of events has provoked fury along with stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence on the matter.
