In a freshly published memoir, titled Ithaki, the ex- premier Tsipras does not hold back while he reflects on the chaotic period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, he appointed that unorthodox economist Yanis Varoufakis to be his treasury head primarily due to the latter's international reputation along with his “extremely attractive” skills when it came to speaker.
“He was, in reality, more of a star and less of an economist,” recalled Tsipras.
Conflicting Priorities
The former leader claims how Varoufakis possessed a personal agenda that involved promoting Varoufakis's publications as well as testing out his own game theories on Greece rather than truly fighting for the country's financial survival.
He noted how those negotiations to prevent insolvency were “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself perilously on the brink of exiting the eurozone.
At stake lay both Greece's destiny but also those harsh austerity policies demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those punitive conditions were put to a popular referendum, an action that plunged Europe into a deeper existential crisis.
Even though the vote was won resoundingly by voters against the cuts, the prime minister was forced but to ignore the result then negotiate a rescue deal with creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing coupons to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
He also wrote how his confrontational style left him increasingly isolated among peers, put Greece at risk, while assisted hardliners who were pushing for Grexit.
This retelling of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
