Within his recently unveiled memoir, titled Ithaki, the former prime minister Tsipras pulls no punches while he revisits the turbulent period of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's account, Tsipras chose that unorthodox economist Yanis Varoufakis as the treasury head primarily because of the latter's international reputation and his very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more like a star rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed his own agenda which involved advancing Varoufakis's books and experimenting with his game theories on the nation rather than genuinely fighting for its economic stability.
He noted that the talks to stave off bankruptcy were “not just a method of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the validity of his ideas.”
High-Stakes Negotiations
During volatile negotiations, Greece came dangerously close to leaving the eurozone.
On the line lay not only the country's destiny and those punishing austerity policies required in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate plea to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote and Reversal
That summer, those punitive conditions were put to a public vote, an action that plunged Europe into a further crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, Tsipras had little option to reject its outcome then agree to a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who drew publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and assisted hardliners who were advocating Grexit.
The retelling of events has provoked anger and stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
