Within his newly released memoir, titled Ithaki, the former leader Tsipras does not hold back while he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's recollections, he chose that maverick economist Yanis Varoufakis to be his finance minister mainly due to the latter's international reputation and Varoufakis's highly compelling skills as a communicator.
“He was, truthfully, more of a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief had a personal motives that involved advancing his books as well as experimenting with his economic models on Greece instead of genuinely advocating the country's financial survival.
He explained how the discussions to prevent bankruptcy became “not only a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
Amid tense discussions, the country came perilously close to leaving the single currency area.
At stake was both the country's destiny but also the harsh austerity policies required in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh conditions were subjected to a public vote, a move which threw Europe into deeper existential crisis.
Even though the vote was won resoundingly by those against austerity, Tsipras was forced to ignore the result then agree to a rescue deal from foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was game over and asked him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for a deal that required complex and delicate handling.”
Tsipras further claimed how his aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
The retelling of events has been met with anger along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
