In a recently unveiled personal account, named Ithaki, the ex- premier Tsipras pulls no punches as he examines the turbulent period during Greece's debt drama.
A Controversial Appointment
As per Tsipras's version, he appointed that unorthodox economist Yanis Varoufakis to be the finance minister mainly because of the latter's global profile and his very persuasive skills as a speaker.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had a personal motives that included promoting Varoufakis's books and testing out his own game theories using the nation rather than truly fighting for its financial survival.
He wrote that those talks to avoid insolvency were “not only a method to secure improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During volatile negotiations, Greece found itself dangerously close to exiting the single currency area.
At stake lay both the country's destiny and those punishing cutbacks demanded in return for financial aid by foreign lenders.
Failed Options
Efforts to secure funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a public vote, a move which threw Europe into deeper existential crisis.
Although the referendum was won decisively by those against austerity, Tsipras had little option but to reject its outcome and negotiate a bailout package with foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This account of history has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.
