In a freshly published personal account, titled Ithaki, the former leader Tsipras pulls no punches as he revisits the turbulent period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's version, he appointed the unorthodox academic Yanis Varoufakis to be his treasury head largely due to his international reputation along with 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
Tsipras alleges that his finance chief possessed his own agenda that involved advancing his books and testing out his own game theories on Greece rather than truly advocating the country's economic stability.
Tsipras explained how the discussions to stave off bankruptcy were “not just a way to secure a better deal for the country. They became an experiment, a monumental chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came perilously on the brink of leaving the eurozone.
On the line lay not only Greece's future and those harsh austerity policies demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those harsh conditions were put to a popular referendum, a move that plunged the EU into a further existential crisis.
Although the referendum was carried decisively by those against the cuts, the prime minister was forced but to reject its outcome and negotiate a bailout package from creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the covers of publications globally … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy that included creating a secondary currency and issuing coupons to retirees, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
This account of events has provoked anger and shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
