In a newly released personal account, named Ithaki, the former prime minister Tsipras does not hold back while he examines that turbulent period of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed that unorthodox economist Yanis Varoufakis as the finance minister primarily because of the latter's international reputation along with Varoufakis's highly compelling skills when it came to communicator.
“He was, truthfully, more like a star rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis had his own agenda which involved advancing his books and testing out his game theories on Greece rather than genuinely advocating the country's financial survival.
Tsipras noted that those discussions to prevent insolvency became “not only a method of achieving improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of his ideas.”
Critical Negotiations
During rollercoaster discussions, the country found itself dangerously close to exiting the eurozone.
On the line lay not only the country's future but also the severe austerity measures demanded in exchange for financial aid from international creditors.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were put to a popular referendum, an action that threw Europe into deeper crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, the prime minister had little option to ignore the result then agree to a rescue deal with creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency and distributing coupons to pensioners, the leader knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes that Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras further claimed how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
