In a newly released memoir, named Ithaki, the former premier Tsipras does not hold back as he examines the chaotic period of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's account, Tsipras selected the maverick economist Yanis Varoufakis as his finance minister mainly due to the latter's worldwide fame and Varoufakis's very persuasive abilities as a speaker.
“He was, in reality, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims how Varoufakis had his own agenda that involved promoting Varoufakis's publications as well as testing out his economic models using the nation rather than truly fighting for its financial survival.
He noted that the discussions to stave off insolvency became “not just a way to secure improved terms for the country. They were an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Negotiations
Amid rollercoaster negotiations, the country came perilously close to exiting the eurozone.
At stake was not only Greece's future but also those harsh austerity measures required in return for financial aid by foreign lenders.
Failed Options
Attempts to find funds from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were put to a public vote, an action that plunged the EU into a deeper existential crisis.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal from foreign lenders which proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency as well as issuing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts how Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras further wrote that his aggressive approach left him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
This account of events has been met with fury along with shock among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
