In a freshly published personal account, titled Ithaki, the ex- leader Tsipras pulls no punches as he revisits the turbulent era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, Tsipras chose the unorthodox academic Yanis Varoufakis as his treasury head largely because of his global profile along with his highly compelling abilities when it came to communicator.
“He was, actually, more like a personality and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief possessed his own motives that included promoting his books as well as testing out his game theories on Greece instead of truly advocating its economic stability.
Tsipras noted that the negotiations to stave off bankruptcy became “not just a way to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line lay not only Greece's destiny but also the harsh cutbacks required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were put to a public vote, a move which threw Europe into a further existential crisis.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced to reject its outcome then agree to a rescue deal from creditors that proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
He also wrote how his aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has been met with fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
