Within his freshly published memoir, called Ithaki, the former leader Tsipras does not hold back as he revisits that turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, Tsipras chose the maverick economist Yanis Varoufakis as his finance minister largely because of his international reputation and his “extremely attractive” skills as a communicator.
“He was, actually, more like a personality and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis had his own agenda which included promoting his publications as well as testing out his economic models on Greece instead of truly advocating its financial survival.
He noted how the discussions to prevent bankruptcy became “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During volatile discussions, Greece found itself dangerously on the brink of leaving the eurozone.
On the line lay not only the country's destiny but also the harsh austerity policies demanded in return for rescue loans from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the harsh bailout terms were put to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Although the referendum was carried decisively by voters against austerity, Tsipras was forced but to reject its outcome then agree to a bailout package with creditors which turned out to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author asserts how Varoufakis had proved himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras also wrote that his aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
The account of events has provoked fury and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
