Within his recently unveiled memoir, titled Ithaki, the former premier Tsipras pulls no punches as he examines the chaotic period during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's recollections, he appointed that maverick academic Yanis Varoufakis as his finance minister largely due to the latter's worldwide fame along with his very persuasive abilities when it came to communicator.
“He was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed his own agenda that included promoting Varoufakis's publications as well as experimenting with his theories using Greece instead of truly advocating its economic stability.
Tsipras noted that the talks to prevent insolvency became “not just a way of achieving improved terms for Greece. They were a test, an historic chance to prove the truth of his theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake lay not only the country's future and those punishing austerity measures required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, a move which threw Europe into a further existential crisis.
Even though the vote was carried resoundingly by voters who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency and issuing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author asserts how Varoufakis had proved himself “unfit for a deal demanding intricate and delicate handling.”
He also claimed that his confrontational approach made him increasingly isolated with colleagues, endangered the country, and assisted hawks that were advocating Grexit.
The retelling of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
