In a newly released personal account, named Ithaki, the ex- premier Tsipras does not hold back as he revisits the chaotic era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, he chose the unorthodox academic Yanis Varoufakis as the treasury head mainly because of the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to communicator.
“He was, truthfully, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed a personal motives that involved promoting his publications and experimenting with his economic models on the nation rather than truly fighting for the country's economic stability.
Tsipras explained that those discussions to prevent insolvency were “not just a method of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the validity of his economic theories.”
Critical Talks
During volatile discussions, Greece came perilously close to leaving the single currency area.
At stake lay both the country's destiny but also those punishing austerity policies required in return for bailout funds by international creditors.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, those punitive bailout terms were put to a public vote, an action which plunged the EU into a further existential crisis.
Although the referendum was carried decisively by those against the cuts, the prime minister had little option to ignore the result and agree to a rescue deal with creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
He further wrote that his aggressive style left him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This account of history has been met with fury and shock in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
