In a newly released personal account, titled Ithaki, the former premier Tsipras does not hold back while he examines the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's recollections, he chose the maverick economist Yanis Varoufakis to be his treasury head primarily due to his worldwide fame along with Varoufakis's very persuasive abilities when it came to speaker.
“He was, actually, more of a star rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges that his finance chief possessed his own motives which involved promoting Varoufakis's books as well as testing out his own economic models on Greece instead of genuinely fighting for its economic stability.
Tsipras explained that those discussions to avoid bankruptcy became “not just a method of achieving a better deal for the country. They were an experiment, an historic opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
At stake was not only the country's future but also the harsh cutbacks demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, a move that threw the EU into a deeper existential crisis.
Although the vote was carried decisively by those who opposed the cuts, the prime minister was forced but to ignore the result then agree to a rescue deal from foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts how his former ally had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote how his confrontational style left him more and more alone with colleagues, put Greece at risk, while helped hawks that were pushing for a Greek exit from the euro.
The retelling of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
