In a recently unveiled autobiography, called Ithaki, the ex- premier Tsipras does not hold back as he revisits the turbulent period during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, Tsipras selected the maverick economist Yanis Varoufakis to be his finance minister largely due to the latter's worldwide fame along with his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more of a personality rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief possessed his own motives which involved promoting his books and testing out his economic models on the nation rather than genuinely advocating its financial survival.
Tsipras wrote that the discussions to avoid bankruptcy became “not just a method to secure improved terms for Greece. They became a test, a monumental opportunity to prove the truth of his economic theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
On the line lay not only Greece's future and those harsh austerity policies demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move which threw the EU into a deeper existential crisis.
Although the referendum was won decisively by those against austerity, Tsipras was forced but to reject its outcome then negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was game over questioning him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also claimed that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
The retelling of history has been met with anger and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
