In a recently unveiled memoir, named Ithaki, the ex- premier Tsipras pulls no punches as he examines the chaotic period during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, he appointed that maverick economist Yanis Varoufakis to be the treasury head mainly because of his global profile along with his very persuasive skills as a speaker.
“He was, actually, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief possessed a personal motives that included advancing Varoufakis's books and testing out his economic models using Greece rather than truly fighting for its economic stability.
Tsipras noted how those talks to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster discussions, Greece found itself perilously close to leaving the eurozone.
At stake was both Greece's destiny and the punishing austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a public vote, a move which threw Europe into further crisis of identity.
Although the vote was carried decisively by those against the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors that proved to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts how his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
He also claimed that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of history has been met with anger and shock in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
