In a newly released memoir, called Ithaki, the ex- prime minister Tsipras pulls no punches as he examines the chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, Tsipras appointed the maverick economist Yanis Varoufakis to be his finance minister largely because of the latter's international reputation along with Varoufakis's highly compelling abilities as a speaker.
“He was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief possessed a personal motives that included advancing his books as well as experimenting with his theories using Greece instead of genuinely advocating its financial survival.
He wrote that the discussions to stave off bankruptcy were “not only a way of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During tense negotiations, Greece came dangerously on the brink of exiting the single currency area.
At stake was both Greece's destiny but also those punishing cutbacks required in exchange for financial aid by international creditors.
Failed Options
Attempts to find financing from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were put to a public vote, an action that plunged Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by voters against the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
When the minister outlined a backup strategy involving creating a secondary currency and distributing coupons to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further claimed how his aggressive approach left him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
This account of events has been met with fury and stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
