Within his newly released autobiography, titled Ithaki, the ex- leader Tsipras does not hold back while he revisits that chaotic period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, Tsipras chose the unorthodox academic Yanis Varoufakis as the finance minister largely due to his international reputation along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, in reality, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis had his own motives that involved advancing his books and experimenting with his own game theories using Greece instead of truly advocating the country's economic stability.
He noted that the negotiations to avoid insolvency became “not just a way of achieving improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece came perilously on the brink of leaving the eurozone.
On the line lay not only the country's future and those harsh cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which plunged the EU into a deeper existential crisis.
Although the referendum was carried resoundingly by those against austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal with creditors which proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, the leader knew that it was the end and asked him: “Is this for real?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and delicate management.”
He further wrote how his confrontational approach made him increasingly isolated with colleagues, endangered the country, and helped hardliners who were pushing for Grexit.
This account of history has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
