In a freshly published personal account, named Ithaki, the ex- premier Tsipras does not hold back as he examines that turbulent era during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's version, he chose that unorthodox academic Yanis Varoufakis to be the treasury head primarily because of the latter's global profile and Varoufakis's highly compelling abilities when it came to communicator.
“He was, truthfully, more of a personality and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief had a personal motives that included promoting Varoufakis's publications and testing out his own economic models on Greece instead of truly fighting for the country's economic stability.
Tsipras wrote that those discussions to prevent bankruptcy became “not just a method of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of his ideas.”
Critical Negotiations
During volatile negotiations, the country came perilously on the brink of exiting the eurozone.
At stake lay both Greece's destiny but also the severe cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a public vote, an action which plunged the EU into further existential crisis.
Although the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced but to reject its outcome and negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement that required complex and delicate management.”
Tsipras further wrote that Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
This account of history has provoked fury and shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
