Within his freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits that chaotic period of Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, he appointed the maverick academic Yanis Varoufakis to be the treasury head mainly due to his worldwide fame and his very persuasive skills as a public orator.
“He was, truthfully, more of a star rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief possessed his own motives which involved promoting his books and experimenting with his own economic models using Greece rather than truly advocating the country's financial survival.
Tsipras wrote how the negotiations to stave off insolvency became “not only a method of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid tense negotiations, the country came perilously on the brink of leaving the eurozone.
At stake was both Greece's future but also those punishing cutbacks demanded in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the punitive conditions were subjected to a public vote, an action that threw the EU into a deeper existential crisis.
Although the vote was won resoundingly by voters against austerity, Tsipras had little option to reject its outcome and negotiate a bailout package with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes how his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed how his confrontational style made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
