In a recently unveiled personal account, named Ithaki, the ex- leader Tsipras does not hold back as he reflects on the turbulent period of Greece's debt drama.
A Controversial Choice
According to Tsipras's version, Tsipras appointed the unorthodox economist Yanis Varoufakis as his treasury head largely because of his global profile along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, truthfully, more like a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed his own motives which included promoting Varoufakis's publications as well as testing out his own economic models using the nation rather than truly fighting for its financial survival.
Tsipras wrote how those negotiations to stave off insolvency were “not only a way to secure improved terms for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's future and those harsh austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
That summer, the punitive bailout terms were subjected to a public vote, an action which threw the EU into further existential crisis.
Although the vote was won resoundingly by those against austerity, the prime minister was forced but to ignore the result and agree to a bailout package with creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included creating a parallel currency and issuing coupons to retirees, Tsipras said he realised that it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement that required complex and delicate handling.”
He also claimed how Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with fury and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
