In a recently unveiled memoir, named Ithaki, the former premier Tsipras does not hold back as he reflects on the chaotic era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's version, he chose the maverick economist Yanis Varoufakis as the treasury head primarily due to his international reputation along with his highly compelling abilities as a communicator.
“In reality, he was, actually, more like a star rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras suggests how his finance chief possessed a personal agenda which involved promoting his publications and experimenting with his game theories on the nation instead of genuinely advocating its economic stability.
He noted that the negotiations to stave off insolvency were “not only a method of achieving a better deal for the country. They were an experiment, an historic opportunity to prove the validity of his theories.”
Critical Talks
During rollercoaster discussions, the country came perilously close to exiting the eurozone.
At stake was not only the country's future but also the punishing austerity policies required in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and Reversal
That summer, the harsh bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Even though the vote was carried decisively by those who opposed austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal from foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency and issuing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The retelling of events has been met with fury and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
