Within his freshly published autobiography, called Ithaki, the former premier Tsipras spares no criticism as he revisits the turbulent period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's account, Tsipras appointed the maverick academic Yanis Varoufakis to be his finance minister largely due to his worldwide fame along with Varoufakis's very persuasive abilities as a speaker.
“He was, actually, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis possessed his own agenda which involved advancing Varoufakis's books and experimenting with his own theories using Greece rather than genuinely fighting for its economic stability.
He wrote that those negotiations to stave off insolvency became “not just a method to secure improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself perilously on the brink of leaving the eurozone.
At stake was not only the country's destiny and the punishing austerity policies demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were put to a popular referendum, a move which threw the EU into further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result and negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency and issuing vouchers to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the memoir, the author asserts that his former ally had proved himself “unfit for a deal that required intricate and delicate management.”
He further wrote that his confrontational style made him more and more alone among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
