In a newly released memoir, named Ithaki, the former leader Tsipras spares no criticism as he revisits the turbulent period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, he appointed the unorthodox economist Yanis Varoufakis to be the treasury head mainly due to the latter's international reputation and his very persuasive skills when it came to public orator.
“He was, actually, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had his own motives that involved promoting his books and testing out his theories using the nation rather than genuinely advocating the country's economic stability.
He noted that those talks to stave off bankruptcy became “not only a method of achieving improved terms for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, Greece found itself perilously on the brink of exiting the single currency area.
At stake lay not only Greece's future and the harsh cutbacks required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were put to a public vote, a move that threw Europe into a deeper existential crisis.
Even though the referendum was carried decisively by those against the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also wrote that his aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for Grexit.
This retelling of history has provoked anger and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
