In a recently unveiled autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches as he reflects on that chaotic period during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras chose that unorthodox academic Yanis Varoufakis as the treasury head largely because of the latter's global profile and Varoufakis's “extremely attractive” skills as a communicator.
“He was, in reality, more of a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis had a personal motives that included advancing Varoufakis's books and experimenting with his own theories on the nation rather than truly fighting for the country's economic stability.
Tsipras explained how the talks to avoid bankruptcy were “not only a way to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Talks
During tense negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake lay not only Greece's future but also the severe austerity measures required in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
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 during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Even though the referendum was won decisively by those against austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who drew media attention, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also claimed that his aggressive approach made him more and more alone with colleagues, endangered the country, and helped hawks who were advocating Grexit.
This account of events has provoked fury along with shock among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
