In a newly released personal account, named Ithaki, the former prime minister Tsipras pulls no punches while he revisits the turbulent period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, he selected the unorthodox economist Yanis Varoufakis to be his finance minister mainly due to his worldwide fame along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief possessed his own agenda which involved promoting his publications and testing out his game theories using the nation instead of truly advocating its economic stability.
He wrote that the talks to stave off bankruptcy became “not just a method of achieving a better deal for Greece. They became a test, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster discussions, the country came dangerously on the brink of leaving the single currency area.
At stake lay both Greece's destiny and the severe austerity policies required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action which threw the EU into a further existential crisis.
Although the referendum was won decisively by those who opposed the cuts, the prime minister was forced to reject its outcome and agree to a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, Tsipras knew it was game over questioning him: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes how his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
He further wrote that his confrontational style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
The retelling of history has provoked fury along with shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
