In a newly released memoir, titled Ithaki, the ex- leader Tsipras does not hold back while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's version, Tsipras appointed the maverick economist Yanis Varoufakis to be his treasury head largely because of his worldwide fame and his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more of a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis had a personal motives which involved advancing his books and testing out his own economic models on Greece rather than genuinely advocating its financial survival.
He noted how the negotiations to avoid insolvency were “not just a method of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the validity of his ideas.”
Critical Talks
Amid volatile discussions, the country found itself perilously close to leaving the eurozone.
At stake lay both the country's future but also the harsh cutbacks required in exchange for financial aid by international creditors.
Failed Options
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were put to a public vote, an action that plunged Europe into further crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package from creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how Varoufakis had proved himself “unfit for a deal demanding complex and delicate handling.”
He also claimed that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hawks who were advocating Grexit.
This account of history has provoked fury and shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
