Within his recently unveiled personal account, named Ithaki, the ex- leader Tsipras does not hold back while he revisits that chaotic era of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, Tsipras chose that unorthodox economist Yanis Varoufakis as the finance minister primarily because of his international reputation along with his “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had his own agenda which involved advancing his publications and testing out his own economic models using the nation instead of genuinely fighting for the country's economic stability.
He explained how the discussions to prevent insolvency were “not only a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself dangerously close to exiting the single currency area.
At stake lay not only the country's destiny but also those severe cutbacks required in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, including an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the punitive bailout terms were subjected to a public vote, a move that threw the EU into deeper crisis of identity.
Although the vote was carried resoundingly by those against the cuts, the prime minister had little option but to ignore the result and agree to a bailout package from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader knew it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts how Varoufakis had proved himself “unsuitable for a deal that required intricate and delicate management.”
He also wrote how his aggressive style left him more and more alone among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This retelling of events has provoked anger and shock in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
