In a freshly published personal account, titled Ithaki, the ex- leader Tsipras does not hold back while he revisits that chaotic era during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's account, Tsipras chose the maverick academic Yanis Varoufakis as the treasury head largely due to his worldwide fame and his “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis had his own agenda that involved advancing his books as well as testing out his own economic models on the nation rather than genuinely advocating the country's economic stability.
He noted how the discussions to avoid bankruptcy were “not just a method of achieving a better deal for the country. They became a test, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
During tense negotiations, the country came perilously close to leaving the eurozone.
At stake lay not only Greece's future but also those harsh austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, an action which plunged the EU into a deeper crisis of identity.
Although the referendum was carried decisively by those who opposed the cuts, the prime minister was forced but to ignore the result and agree to a bailout package with creditors which turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras also claimed how his confrontational approach made him increasingly isolated among peers, put Greece at risk, and helped hardliners who were advocating Grexit.
This retelling of history has provoked fury along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
