Within his recently unveiled memoir, named Ithaki, the former prime minister Tsipras does not hold back as he revisits that chaotic era during Greece's financial crisis.
A Controversial Choice
As per Tsipras's account, he chose the unorthodox academic Yanis Varoufakis as his treasury head largely due to the latter's worldwide fame and Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, in reality, more like a star and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief possessed his own agenda that involved advancing Varoufakis's books as well as testing out his own economic models using the nation instead of genuinely advocating its financial survival.
Tsipras explained that those negotiations to stave off insolvency were “not just a way of achieving a better deal for Greece. They were a test, an historic chance to prove the validity of his theories.”
High-Stakes Negotiations
During tense negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake lay not only the country's future but also those harsh cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras 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 crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result and agree to a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote that his confrontational approach left him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The account of events has been met with fury and shock among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
