Within his newly released memoir, titled Ithaki, the former prime minister Tsipras pulls no punches as he reflects on that chaotic period of Greece's debt drama.
A Controversial Appointment
In Tsipras's account, Tsipras appointed the maverick academic Yanis Varoufakis to be his treasury head largely because of the latter's worldwide fame along with his highly compelling skills as a speaker.
“He was, actually, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis had a personal agenda that involved promoting his books as well as experimenting with his theories using the nation rather than truly fighting for the country's financial survival.
He explained that those negotiations to avoid bankruptcy became “not just a way of achieving improved terms for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, the country found itself dangerously close to exiting the eurozone.
At stake was not only the country's future and the harsh cutbacks required in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a public vote, a move that plunged the EU into a further crisis of identity.
Although the vote was carried resoundingly by voters against austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package with creditors which proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan involving creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
In the book, the author asserts that his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further claimed how his aggressive style left him more and more alone among peers, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
