In a freshly published personal account, called Ithaki, the former leader Tsipras pulls no punches while he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's account, Tsipras selected the maverick academic Yanis Varoufakis as the treasury head mainly because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims that his finance chief had his own agenda which included advancing Varoufakis's books and testing out his own theories using the nation rather than genuinely fighting for the country's economic stability.
He explained how those negotiations to avoid bankruptcy became “not only a method to secure a better deal for the country. They became a test, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
Amid tense discussions, Greece came dangerously close to leaving the eurozone.
On the line lay both the country's destiny and the punishing austerity measures demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those excoriating conditions were put to a public vote, a move which threw Europe into a deeper crisis of identity.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package with creditors which turned out to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes that Varoufakis had proved himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras further claimed that his confrontational approach left him more and more alone among peers, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with fury along with shock in some quarters, while the former minister has kept a conspicuous quiet on the matter.
