In a freshly published autobiography, titled Ithaki, the former premier Tsipras does not hold back while he reflects on that chaotic era during Greece's debt drama.
A Controversial Appointment
As per Tsipras's account, Tsipras selected the unorthodox economist Yanis Varoufakis to be the finance minister largely because of his worldwide fame along with his very persuasive skills when it came to public orator.
“He was, truthfully, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief possessed his own agenda which involved promoting Varoufakis's publications as well as testing out his theories using the nation instead of genuinely fighting for the country's economic stability.
Tsipras wrote that those discussions to prevent insolvency became “not only a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line was not only the country's future and those punishing cutbacks demanded in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the punitive conditions were subjected to a popular referendum, an action that plunged Europe into further existential crisis.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was game over and asked him: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself “unfit for a deal that required complex and sensitive management.”
He further wrote that his confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for Grexit.
This account of events has provoked fury and shock in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
