In a freshly published personal account, named Ithaki, the former premier Tsipras does not hold back while he revisits that chaotic era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, he appointed that unorthodox economist Yanis Varoufakis to be his finance minister mainly due to his worldwide fame along with his “extremely attractive” skills as a public orator.
“He was, actually, more of a star rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims how his finance chief possessed a personal motives which involved advancing Varoufakis's publications as well as experimenting with his theories on Greece instead of genuinely advocating the country's financial survival.
Tsipras wrote that those talks to stave off bankruptcy became “not just a way of achieving improved terms for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
During tense discussions, the country found itself perilously close to leaving the single currency area.
At stake was not only the country's destiny but also those severe austerity policies demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action that plunged Europe into a further existential crisis.
Although the referendum was carried resoundingly by voters against the cuts, the prime minister was forced but to ignore the result then negotiate a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for a deal that required complex and delicate handling.”
Tsipras further claimed that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
