In a newly released autobiography, called Ithaki, the ex- premier Tsipras spares no criticism while he revisits the turbulent era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, he chose the maverick economist Yanis Varoufakis to be his finance minister primarily due to the latter's international reputation along with Varoufakis's very persuasive abilities as a communicator.
“He was, actually, more of a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis had his own motives which included advancing his books as well as experimenting with his theories using the nation instead of genuinely fighting for its financial survival.
He noted that those talks to stave off bankruptcy became “not just a way of achieving a better deal for the country. They became a test, an historic opportunity to prove the truth of his theories.”
Critical Negotiations
During tense discussions, Greece found itself perilously close to leaving the eurozone.
At stake was both the country's destiny and those harsh cutbacks required in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action which threw Europe into deeper existential crisis.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras was forced to ignore the result and agree to a bailout package with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving creating a parallel currency and distributing coupons to retirees, the leader said he realised it was the end questioning him: “Are you serious?”
Enduring Criticism
In the memoir, the author asserts how his former ally demonstrated himself “unfit for a deal demanding intricate and delicate management.”
Tsipras also claimed that Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.
This account of events has been met with fury and shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
