In a newly released autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent era of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's version, he selected that unorthodox economist Yanis Varoufakis as his finance minister largely because of the latter's global profile along with Varoufakis's “extremely attractive” skills as a public orator.
“He was, in reality, more of a star rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader alleges how Varoufakis had a personal motives that included advancing his publications as well as testing out his theories using the nation rather than genuinely advocating the country's financial survival.
Tsipras wrote that those negotiations to prevent insolvency became “not only a method to secure improved terms for Greece. They became a test, an historic chance to prove the validity of his economic theories.”
Critical Negotiations
During tense negotiations, the country came dangerously close to exiting the single currency area.
On the line lay not only the country's destiny and the punishing cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece was tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, a move which threw Europe into a further existential crisis.
Although the referendum was won resoundingly by those against austerity, Tsipras was forced but to ignore the result and agree to a rescue deal with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further claimed that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
