Within his newly released autobiography, named Ithaki, the ex- premier Tsipras does not hold back as he revisits the turbulent era of Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, Tsipras selected that unorthodox academic Yanis Varoufakis to be the finance minister mainly due to his international reputation and his highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more of a personality rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief possessed his own motives which involved promoting Varoufakis's publications as well as experimenting with his own economic models using Greece instead of truly fighting for the country's economic stability.
Tsipras noted that the negotiations to avoid bankruptcy became “not only a way of achieving improved terms for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay both the country's future and those harsh austerity policies demanded in exchange for financial aid from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were put to a public vote, an action that plunged Europe into a deeper existential crisis.
Although the vote was won decisively by voters against the cuts, the prime minister had little option to ignore the result then agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, the leader knew it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
He also wrote how his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
