In a recently unveiled personal account, titled Ithaki, the former premier Tsipras pulls no punches while he reflects on that chaotic era during Greece's debt drama.
A Controversial Choice
In the ex-PM's version, Tsipras appointed the maverick economist Yanis Varoufakis as the treasury head mainly due to his global profile along with his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis possessed his own agenda which included advancing Varoufakis's books as well as experimenting with his game theories on the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted that the discussions to stave off insolvency became “not only a way of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid volatile negotiations, Greece found itself perilously close to leaving the single currency area.
At stake was both Greece's future and those severe austerity measures demanded in return for rescue loans from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
That summer, those punitive bailout terms were subjected to a public vote, a move that threw Europe into a further crisis of identity.
Even though the vote was carried decisively by those against austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing coupons to retirees, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself “unsuitable for an agreement demanding complex and delicate management.”
Tsipras further claimed how his aggressive approach made him increasingly isolated among peers, put Greece at risk, while helped hawks who were advocating Grexit.
The account of history has provoked fury and stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
