In a recently unveiled personal account, titled Ithaki, the former leader Tsipras does not hold back as he examines that turbulent era of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, he appointed that unorthodox economist Yanis Varoufakis to be his finance minister primarily because of the latter's global profile along with his very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis had his own agenda that involved advancing his publications and testing out his theories using Greece rather than truly advocating its financial survival.
Tsipras explained that those talks to prevent bankruptcy were “not only a way of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of his theories.”
Critical Negotiations
During tense discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line was not only Greece's future but also those severe austerity policies required in return for rescue loans from international creditors.
Failed Alternatives
Attempts to find funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were subjected to a public vote, a move which threw Europe into a further existential crisis.
Even though the referendum was carried decisively by those against austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing vouchers to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive management.”
He further wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with fury and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
