In a freshly published autobiography, named Ithaki, the ex- premier Tsipras does not hold back as he revisits the turbulent era of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, Tsipras chose the maverick economist Yanis Varoufakis as the finance minister mainly because of the latter's international reputation and Varoufakis's highly compelling skills as a communicator.
“In reality, he was, truthfully, more of a star and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges how his finance chief had his own agenda that included advancing his books and experimenting with his economic models using the nation rather than genuinely advocating the country's financial survival.
Tsipras explained that those talks to prevent insolvency became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, Greece found itself perilously close to exiting the eurozone.
At stake lay not only Greece's destiny but also those punishing austerity policies demanded in return for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, a move which threw Europe into a deeper existential crisis.
Although the vote was carried resoundingly by voters against the cuts, Tsipras was forced to reject its outcome and agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
He also claimed that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
This retelling of events has provoked anger along with shock among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
