Within his freshly published personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back as he reflects on the turbulent era of Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, he selected that unorthodox academic Yanis Varoufakis to be the finance minister largely due to his international reputation and his very persuasive abilities when it came to speaker.
“In reality, he was, actually, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own agenda which involved promoting Varoufakis's publications and experimenting with his economic models on Greece instead of truly advocating the country's economic stability.
Tsipras explained that those discussions to stave off insolvency were “not just a method of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his economic theories.”
Critical Negotiations
Amid tense negotiations, Greece came perilously on the brink of leaving the single currency area.
At stake lay both the country's future but also the punishing cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Although the referendum was carried resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome then negotiate a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, the leader said he realised it was the end questioning him: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
He also claimed how his aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
This retelling of history has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
