In a newly released personal account, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits the chaotic period during Greece's debt drama.
A Controversial Appointment
As per Tsipras's version, he chose that maverick economist Yanis Varoufakis as the treasury head largely because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, truthfully, more like a star and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed a personal agenda that included advancing Varoufakis's books as well as experimenting with his own game theories on Greece instead of genuinely advocating its financial survival.
He explained how those discussions to avoid insolvency were “not just a way to secure improved terms for the country. They were an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came dangerously close to exiting the single currency area.
At stake lay both Greece's destiny and those severe austerity measures required in exchange for rescue loans from international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were put to a public vote, a move that threw the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by voters against the cuts, the prime minister had little option but to reject its outcome then agree to a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author concludes that his former ally had proved himself to be “unfit for an agreement that required complex and sensitive handling.”
Tsipras further claimed how his confrontational approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
