In a newly released personal account, titled Ithaki, the former leader Tsipras pulls no punches as he revisits that chaotic period of Greece's debt drama.
A Controversial Appointment
As per Tsipras's version, he chose the unorthodox economist Yanis Varoufakis to be the treasury head primarily because of his worldwide fame along with his highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more of a star rather than an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader alleges that his finance chief had a personal agenda that included promoting Varoufakis's publications and testing out his own game theories using the nation instead of genuinely fighting for its economic stability.
He wrote how those negotiations to avoid insolvency became “not just a way to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line was not only the country's destiny and those punishing austerity policies required in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action that plunged Europe into deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras had little option but to ignore the result and agree to a rescue deal with foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to retirees, Tsipras knew that it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras also claimed how his aggressive style left him more and more alone among peers, endangered the country, while assisted hawks that were pushing for Grexit.
The account of events has provoked fury and shock among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
