Within his newly released memoir, called Ithaki, the former premier Tsipras pulls no punches as he revisits that chaotic era during Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, Tsipras appointed that unorthodox economist Yanis Varoufakis to be the finance minister mainly due to the latter's international reputation along with his very persuasive skills when it came to speaker.
“He was, in reality, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief possessed his own motives that involved promoting Varoufakis's books and testing out his game theories on Greece rather than truly advocating the country's financial survival.
Tsipras noted how the discussions to prevent bankruptcy were “not only a method of achieving a better deal for Greece. They were an experiment, an historic chance to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line was not only the country's future but also those severe cutbacks required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the harsh conditions were subjected to a public vote, a move that threw the EU into deeper crisis of identity.
Even though the referendum was won decisively by voters against austerity, the prime minister had little option to ignore the result then negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
Tsipras further wrote that his confrontational style made him more and more alone with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
This retelling of history has provoked anger along with stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
