Within his newly released memoir, named Ithaki, the former leader Tsipras pulls no punches while he reflects on that chaotic period during Greece's financial crisis.
A Controversial Choice
According to Tsipras's version, he chose the maverick economist Yanis Varoufakis to be his finance minister primarily due to his worldwide fame along with his very persuasive abilities when it came to speaker.
“He was, in reality, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras claims how Varoufakis had a personal agenda that included promoting Varoufakis's publications and testing out his own economic models using the nation instead of genuinely advocating the country's financial survival.
Tsipras explained that those talks to prevent bankruptcy were “not just a method to secure improved terms for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, the country came dangerously close to leaving the single currency area.
At stake lay not only the country's future but also those harsh cutbacks required in return for rescue loans from international creditors.
Failed Options
Efforts to secure financing from other sources, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action that plunged the EU into further crisis of identity.
Even though the referendum was won resoundingly by those against austerity, the prime minister had little option but to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency and distributing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
He also claimed that his confrontational approach made him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
This account of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
