In a newly released personal account, called Ithaki, the former prime minister Tsipras spares no criticism as he reflects on the turbulent era of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's account, Tsipras selected that unorthodox economist Yanis Varoufakis as his treasury head primarily due to his international reputation and his highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more like a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief possessed his own motives that included promoting his books as well as testing out his game theories using the nation rather than genuinely fighting for the country's economic stability.
He wrote how the discussions to prevent insolvency were “not just a way to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
During tense negotiations, the country came perilously close to leaving the eurozone.
On the line was both the country's destiny and the punishing austerity policies demanded in return for financial aid from international creditors.
Failed Options
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the punitive bailout terms were put to a public vote, an action that plunged the EU into deeper existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result then agree to a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy that included creating a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He further claimed that his aggressive approach left him more and more alone among peers, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The account of events has provoked fury along with shock among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
