Within his newly released memoir, titled Ithaki, the ex- prime minister Tsipras does not hold back as he examines the chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, Tsipras chose the maverick academic Yanis Varoufakis to be his finance minister largely due to the latter's worldwide fame along with Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief had a personal agenda that included promoting Varoufakis's publications and experimenting with his own economic models using the nation instead of truly advocating its economic stability.
He explained how those negotiations to avoid bankruptcy became “not just a way of achieving improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, Greece found itself perilously close to exiting the single currency area.
On the line lay not only the country's future and those harsh cutbacks demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the excoriating conditions were put to a popular referendum, an action which threw Europe into deeper existential crisis.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes how his former ally had proved himself “unfit for an agreement demanding complex and delicate handling.”
He also claimed how his confrontational approach made him more and more alone among peers, endangered the country, and helped hardliners that were pushing for Grexit.
This retelling of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
