In a freshly published autobiography, called Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed the maverick economist Yanis Varoufakis as his treasury head largely because of the latter's worldwide fame along with his “extremely attractive” skills as a communicator.
“In reality, he was, in reality, more of a personality and less of an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief had his own motives that involved advancing his books and testing out his own economic models on Greece rather than genuinely advocating the country's economic stability.
He wrote that those talks to stave off bankruptcy were “not just a method of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece found itself perilously on the brink of exiting the eurozone.
At stake lay not only the country's destiny but also the punishing austerity policies required in return for rescue loans from international creditors.
Failed Alternatives
Efforts to find financing from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were put to a popular referendum, an action which plunged the EU into a deeper existential crisis.
Even though the referendum was won resoundingly by those against austerity, the prime minister was forced to reject its outcome then agree to a rescue deal from foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing coupons to retirees, Tsipras knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras also claimed that his confrontational approach made him more and more alone among peers, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
