Within his freshly published memoir, titled Ithaki, the former prime minister Tsipras pulls no punches while he reflects on the turbulent period during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, Tsipras chose that unorthodox economist Yanis Varoufakis to be his finance minister largely due to the latter's international reputation along with Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief had his own motives that included advancing Varoufakis's books as well as testing out his economic models on the nation instead of genuinely fighting for the country's financial survival.
He wrote that those talks to prevent insolvency became “not just a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Talks
During rollercoaster negotiations, the country found itself dangerously on the brink of leaving the eurozone.
At stake was not only Greece's destiny but also the severe austerity measures required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were subjected to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the vote was carried decisively by those who opposed austerity, Tsipras had little option but to ignore the result then negotiate a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, the leader knew it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts how his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
He further claimed how his confrontational approach made him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
