In a freshly published personal account, called Ithaki, the former premier Tsipras does not hold back while he examines the turbulent period of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, he chose that unorthodox economist Yanis Varoufakis to be his treasury head primarily due to his international reputation along with his highly compelling abilities as a communicator.
“In reality, he was, actually, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed his own motives that involved promoting his books as well as experimenting with his game theories using the nation instead of truly fighting for the country's economic stability.
Tsipras noted how those talks to avoid insolvency became “not just a way to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
During volatile negotiations, the country found itself perilously close to exiting the eurozone.
At stake was both Greece's destiny and the severe cutbacks demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, an action which threw the EU into a further existential crisis.
Although the referendum was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package from creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving creating a parallel currency and distributing coupons to pensioners, the leader said he realised it was the end and asked him: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate handling.”
Tsipras also claimed how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
This account of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence on the matter.
