In a freshly published personal account, named Ithaki, the ex- premier Tsipras pulls no punches as he revisits that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras selected the unorthodox economist Yanis Varoufakis as his finance minister largely due to his international reputation along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, actually, more of a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own agenda which included promoting his publications as well as experimenting with his own game theories on the nation instead of truly advocating the country's economic stability.
Tsipras explained how the discussions to prevent insolvency became “not just a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster discussions, the country found itself dangerously close to exiting the single currency area.
At stake was both the country's destiny but also those punishing cutbacks required in return for bailout funds from international creditors.
Failed Alternatives
Attempts to find financing from other sources, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a public vote, a move which threw Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, Tsipras was forced to reject its outcome then negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency as well as distributing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
He also claimed that his aggressive style left him more and more alone among peers, endangered the country, and helped hardliners that were advocating Grexit.
This retelling of events has been met with anger along with shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
