Within his newly released memoir, called Ithaki, the former premier Tsipras pulls no punches while he revisits the chaotic era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, Tsipras selected the maverick academic Yanis Varoufakis as the finance minister primarily due to his worldwide fame and his highly compelling skills as a communicator.
“He was, truthfully, more like a star rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis possessed a personal motives which included advancing his books and testing out his own theories on the nation rather than genuinely fighting for its economic stability.
Tsipras explained that the talks 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 Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line lay both the country's future but also the punishing cutbacks demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those harsh conditions were subjected to a public vote, a move which threw the EU into deeper crisis of identity.
Even though the referendum was won decisively by voters against the cuts, Tsipras had little option but to ignore the result and agree to a bailout package with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency and distributing coupons to retirees, the leader said he realised it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes that his former ally had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
He further wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
The retelling of events has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
