Within his recently unveiled memoir, named Ithaki, the ex- prime minister Tsipras does not hold back as he revisits that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, he appointed that unorthodox academic Yanis Varoufakis to be the treasury head primarily due to the latter's worldwide fame along with Varoufakis's highly compelling skills as a public orator.
“He was, in reality, more like a personality rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis had his own motives that included promoting Varoufakis's books and experimenting with his game theories using the nation instead of genuinely advocating its financial survival.
Tsipras noted how those discussions to stave off bankruptcy became “not only a way to secure improved terms for the country. They became a test, a monumental chance to prove the validity of his economic theories.”
Critical Talks
Amid tense discussions, Greece came perilously close to leaving the eurozone.
At stake lay not only Greece's destiny but also those harsh austerity measures demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, an action that plunged Europe into a deeper existential crisis.
Although the vote was carried resoundingly by voters against austerity, the prime minister had little option to ignore the result and negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who graced the covers of publications the world over … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally had proved himself to be “unfit for a deal demanding intricate and delicate management.”
Tsipras also claimed that his aggressive style left him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
This account of events has been met with anger and shock among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
