In a newly released memoir, named Ithaki, the former premier Tsipras pulls no punches while he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, he appointed that unorthodox economist Yanis Varoufakis to be the treasury head largely because of the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis had a personal agenda that included promoting his publications and experimenting with his own game theories using Greece instead of truly fighting for the country's economic stability.
Tsipras noted that the discussions to prevent insolvency were “not just a way of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During volatile discussions, the country came perilously on the brink of leaving the single currency area.
On the line lay both Greece's future and the severe cutbacks demanded in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to find financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, an action that threw Europe into further crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced to reject its outcome then agree to a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
He further claimed how Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
This account of history has provoked anger along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
