In a freshly published personal account, named Ithaki, the ex- premier Tsipras pulls no punches while he revisits the turbulent period of Greece's financial crisis.
A Controversial Appointment
In Tsipras's account, Tsipras chose that unorthodox economist Yanis Varoufakis to be his finance minister largely due to the latter's worldwide fame and his highly compelling abilities as a public orator.
“He was, in reality, more of a personality and less of an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis possessed his own motives which involved promoting his publications and experimenting with his own theories on the nation instead of truly fighting for the country's financial survival.
He noted that the discussions to avoid insolvency were “not just a method of achieving improved terms for Greece. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, Greece found itself perilously close to exiting the single currency area.
At stake was both the country's future but also the harsh cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action which threw the EU into deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package with creditors that turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras further claimed that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
