In a freshly published memoir, titled Ithaki, the ex- leader Tsipras pulls no punches while he reflects on the chaotic era of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's version, he selected the maverick academic Yanis Varoufakis to be his treasury head primarily due to the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more like a star and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis possessed his own agenda that included advancing Varoufakis's publications as well as testing out his economic models using Greece rather than genuinely fighting for its financial survival.
He explained how those negotiations to prevent insolvency became “not just a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself perilously on the brink of exiting the eurozone.
On the line was not only the country's destiny but also those harsh cutbacks demanded in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, an action which threw Europe into a deeper existential crisis.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the book, the author concludes how his former ally had proved himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras also wrote that his aggressive approach left him increasingly isolated among peers, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of events has been met with fury and shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
