Within his freshly published memoir, named Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the chaotic era during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's recollections, he selected that maverick economist Yanis Varoufakis to be the finance minister primarily due to the latter's worldwide fame and his very persuasive abilities when it came to speaker.
“He was, actually, more like a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras suggests how his finance chief had a personal agenda that involved promoting Varoufakis's books and experimenting with his own economic models on the nation rather than truly fighting for its financial survival.
He wrote how the talks to prevent insolvency were “not just a method of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
High-Stakes Talks
Amid rollercoaster discussions, Greece came perilously on the brink of leaving the single currency area.
On the line lay not only the country's future but also those harsh austerity measures demanded in return for rescue loans by foreign lenders.
Failed Options
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive bailout terms were put to a public vote, a move which threw the EU into a deeper crisis of identity.
Even though the vote was carried decisively by voters who opposed the cuts, the prime minister had little option to ignore the result then agree to a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy that included creating a parallel currency as well as distributing vouchers to retirees, the leader said he realised it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras also claimed how his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating Grexit.
This account of events has provoked fury and shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
