Within his freshly published personal account, named Ithaki, the former premier Tsipras does not hold back while he examines that chaotic era during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he appointed the maverick economist Yanis Varoufakis to be his finance minister mainly due to his global profile and Varoufakis's “extremely attractive” abilities as a speaker.
“He was, in reality, more like a personality rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed his own agenda that involved promoting his books as well as testing out his economic models using the nation rather than truly fighting for the country's financial survival.
Tsipras explained how those talks to prevent insolvency became “not only a method of achieving improved terms for the country. They became an experiment, a monumental chance to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid tense discussions, Greece came perilously on the brink of leaving the eurozone.
On the line was both the country's destiny but also the harsh austerity measures demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Even though the vote was carried decisively by voters against the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, the leader knew it was game over questioning him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement that required complex and delicate management.”
Tsipras also claimed that Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
The account of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
