In a newly released memoir, named Ithaki, the former leader Tsipras does not hold back as he examines that chaotic era of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras appointed that maverick economist Yanis Varoufakis to be his treasury head mainly due to his international reputation along with his “extremely attractive” abilities when it came to speaker.
“He was, actually, more of a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis had a personal agenda which involved advancing his books as well as experimenting with his own economic models on Greece rather than genuinely fighting for its economic stability.
He explained how the talks to stave off bankruptcy were “not just a method to secure improved terms for the country. They were a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid volatile discussions, the country came perilously on the brink of leaving the eurozone.
At stake lay both the country's destiny but also those punishing austerity measures required in return for financial aid from foreign lenders.
Failed Options
Efforts to secure funds from other sources, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, a move which plunged Europe into deeper existential crisis.
Even though the vote was won decisively by those against the cuts, Tsipras was forced but to ignore the result and negotiate a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal that required intricate and delicate management.”
He also claimed how Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
This retelling of events has been met with fury and shock among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
