In a recently unveiled memoir, called Ithaki, the ex- leader Tsipras does not hold back as he examines the turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, Tsipras appointed the maverick economist Yanis Varoufakis to be the treasury head primarily due to his international reputation and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief had his own motives that included advancing his books and experimenting with his game theories using the nation instead of genuinely fighting for the country's economic stability.
He explained how the negotiations to stave off bankruptcy became “not just a way of achieving a better deal for the country. They became an experiment, a monumental chance to prove the validity of his theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself dangerously close to exiting the eurozone.
On the line was both the country's future but also the harsh cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Options
Efforts to find funds from other sources, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were put to a public vote, a move that plunged Europe into further existential crisis.
Although the vote was carried decisively by voters who opposed austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further wrote that his confrontational approach made him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for Grexit.
The retelling of events has provoked anger along with stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
