Within his recently unveiled personal account, named Ithaki, the former prime minister Tsipras pulls no punches as he reflects on the turbulent period of Greece's debt drama.
A Controversial Appointment
As per Tsipras's account, Tsipras chose the maverick economist Yanis Varoufakis to be his treasury head mainly because of the latter's worldwide fame and his very persuasive skills when it came to public orator.
“He was, actually, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis had his own agenda which involved promoting his publications and testing out his own theories using Greece rather than genuinely fighting for the country's economic stability.
Tsipras explained how the talks to avoid bankruptcy became “not only a way to secure a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During volatile discussions, Greece found itself dangerously close to exiting the eurozone.
On the line was both Greece's future and the harsh austerity measures required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, an action which plunged Europe into a deeper crisis of identity.
Although the referendum was carried decisively by voters against austerity, the prime minister had little option but to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes how Varoufakis had proved himself “unfit for an agreement that required complex and delicate handling.”
He also wrote that Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were pushing for Grexit.
This retelling of events has provoked fury and stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
