In a newly released autobiography, named Ithaki, the former leader Tsipras spares no criticism as he revisits that chaotic era of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, he chose that unorthodox academic Yanis Varoufakis as the finance minister primarily due to the latter's worldwide fame and his “extremely attractive” abilities when it came to communicator.
“He was, truthfully, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief possessed his own motives that involved promoting his publications and experimenting with his own economic models using Greece rather than truly advocating its economic stability.
Tsipras noted that the negotiations to stave off bankruptcy were “not only a way of achieving improved terms for the country. They were a test, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
During tense discussions, the country came perilously close to leaving the single currency area.
At stake was both the country's future but also those harsh austerity measures demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, the punitive conditions were subjected to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the referendum was won resoundingly by those against the cuts, the prime minister had little option to reject its outcome and agree to a bailout package from foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing vouchers to retirees, the leader knew it was game over questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras further wrote how his confrontational approach left him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This account of history has provoked fury along with stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
