Within his freshly published personal account, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the chaotic period during Greece's debt drama.
A Controversial Appointment
In the ex-PM's account, he selected the maverick economist Yanis Varoufakis as the treasury head mainly due to the latter's international reputation along with his highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis had his own agenda that involved promoting Varoufakis's publications as well as testing out his own economic models on the nation instead of genuinely fighting for the country's financial survival.
Tsipras explained that those negotiations to stave off insolvency became “not only a method of achieving improved terms for the country. They were an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country came perilously on the brink of leaving the eurozone.
On the line was both the country's future and those harsh austerity policies demanded in exchange for financial aid by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, a move that threw Europe into further crisis of identity.
Even though the referendum was carried decisively by voters against austerity, Tsipras was forced but to ignore the result then agree to a bailout package with creditors that proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras knew that it was the end questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras also claimed how his confrontational approach made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
