Within his freshly published personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back while he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, he appointed the maverick academic Yanis Varoufakis to be the treasury head largely because of the latter's global profile and Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis had a personal motives which involved advancing his publications as well as experimenting with his theories using the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted how the discussions to stave off insolvency became “not just a method of achieving a better deal for the country. They were a test, an historic opportunity to prove the validity of his ideas.”
Critical Talks
Amid volatile discussions, the country came dangerously on the brink of leaving the eurozone.
On the line was both the country's destiny and the severe austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those harsh conditions were put to a popular referendum, an action which plunged Europe into a further existential crisis.
Even though the vote was carried resoundingly by those against the cuts, the prime minister had little option to reject its outcome and agree to a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving creating a parallel currency and issuing vouchers to retirees, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras also wrote that his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The retelling of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
