In a newly released memoir, titled Ithaki, the former leader Tsipras pulls no punches while he examines the turbulent period of Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, he chose that unorthodox economist Yanis Varoufakis to be the finance minister mainly because of the latter's international reputation and his very persuasive abilities as a public orator.
“He was, truthfully, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis possessed his own motives which involved advancing his publications and testing out his economic models using the nation instead of genuinely advocating the country's financial survival.
He noted that those negotiations to avoid insolvency became “not only a way to secure improved terms for Greece. They became a test, an historic chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid volatile negotiations, Greece came dangerously on the brink of exiting the single currency area.
On the line was not only Greece's future and the severe austerity measures required in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, a move which threw Europe into a further existential crisis.
Although the referendum was carried resoundingly by voters against austerity, the prime minister was forced to reject its outcome and agree to a rescue deal from creditors that turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed how his confrontational style left him increasingly isolated with colleagues, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
