In a recently unveiled autobiography, named Ithaki, the former leader Tsipras pulls no punches as he reflects on the chaotic era during Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, he selected that maverick academic Yanis Varoufakis to be his treasury head largely due to the latter's global profile and Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, actually, more like a star and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis had a personal agenda that involved promoting his books as well as testing out his theories using the nation instead of genuinely fighting for its financial survival.
He noted that the talks to stave off bankruptcy became “not just a method to secure a better deal for Greece. They became a test, a monumental chance to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was not only Greece's destiny and the punishing cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that threw the EU into a deeper existential crisis.
Even though the referendum was carried decisively by those against austerity, the prime minister was forced to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He also wrote that his confrontational style made him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
This account of history has been met with fury along with shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
