In a newly released memoir, titled Ithaki, the ex- prime minister Tsipras does not hold back while he revisits that turbulent era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, Tsipras appointed the unorthodox economist Yanis Varoufakis to be his treasury head largely due to his worldwide fame and his very persuasive abilities when it came to public orator.
“He was, actually, more like a star rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader claims how Varoufakis had his own agenda which included promoting Varoufakis's books and testing out his own theories on Greece rather than truly fighting for the country's financial survival.
He explained that those negotiations to avoid bankruptcy became “not just a method to secure a better deal for the country. They were an experiment, an historic opportunity to demonstrate the validity of his theories.”
High-Stakes Talks
Amid volatile negotiations, the country found itself dangerously on the brink of exiting the eurozone.
On the line was not only the country's future and the harsh austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were put to a public vote, a move that plunged the EU into a deeper crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, the prime minister was forced to ignore the result then agree to a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of publications globally … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy that included creating a parallel currency and distributing coupons to retirees, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
Tsipras also wrote how his confrontational approach made him more and more alone among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
