Within his recently unveiled personal account, called Ithaki, the ex- premier Tsipras pulls no punches while he revisits that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, Tsipras chose the maverick economist Yanis Varoufakis to be the treasury head mainly due to the latter's worldwide fame and Varoufakis's highly compelling skills when it came to communicator.
“He was, in reality, more like a celebrity and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief had a personal agenda that involved advancing Varoufakis's publications and experimenting with his game theories using Greece rather than genuinely fighting for its economic stability.
He wrote how the talks to prevent bankruptcy were “not just a way to secure a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During tense discussions, Greece found itself perilously on the brink of exiting the eurozone.
At stake lay not only the country's destiny but also those severe austerity policies required in exchange for rescue loans by international creditors.
Failed Options
Efforts to find financing from other sources, including an urgent plea to Russia to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those harsh conditions were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package from creditors which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency and issuing coupons to pensioners, the leader said he realised that it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes how his former ally had proved himself to be “unfit for a deal demanding intricate and delicate management.”
Tsipras also claimed that his aggressive style made him more and more alone among peers, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and shock among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
