In a recently unveiled memoir, called Ithaki, the ex- leader Tsipras does not hold back while he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, he appointed that unorthodox economist Yanis Varoufakis to be the finance minister primarily due to his worldwide fame and his very persuasive abilities as a communicator.
“He was, truthfully, more of a star and less of an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed his own agenda that involved advancing Varoufakis's publications and experimenting with his economic models using Greece instead of truly fighting for the country's financial survival.
Tsipras explained that the discussions to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They became an experiment, a monumental chance to prove the validity of his ideas.”
High-Stakes Talks
During tense negotiations, Greece came dangerously on the brink of leaving the eurozone.
On the line lay not only the country's future but also those severe cutbacks required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, an action that threw Europe into a further existential crisis.
Even though the vote was carried decisively by voters who opposed austerity, Tsipras had little option but to ignore the result and agree to a bailout package from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a secondary currency and distributing vouchers to retirees, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
Tsipras also claimed that Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
