Within his newly released personal account, called Ithaki, the ex- premier Tsipras pulls no punches while he examines the turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras appointed the maverick economist Yanis Varoufakis as the treasury head largely because of the latter's international reputation and his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader claims that his finance chief possessed a personal agenda that included promoting Varoufakis's publications as well as experimenting with his own game theories on Greece rather than truly fighting for the country's financial survival.
Tsipras explained that those negotiations to prevent bankruptcy were “not only a way to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came dangerously close to exiting the eurozone.
At stake lay both the country's destiny and the punishing austerity policies demanded in return for financial aid by international creditors.
Failed Options
Efforts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and Reversal
That summer, those punitive conditions were put to a public vote, an action that plunged the EU into a further existential crisis.
Although the referendum was carried decisively by those against austerity, the prime minister was forced to reject its outcome then negotiate a bailout package from creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a parallel currency and distributing vouchers to retirees, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally had proved himself “unfit for an agreement that required intricate and delicate handling.”
He further wrote how his aggressive approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
