In a freshly published autobiography, named Ithaki, the former prime minister Tsipras pulls no punches as he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras selected the unorthodox academic Yanis Varoufakis to be his treasury head mainly because of the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, in reality, more of a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief had a personal agenda that involved promoting his publications as well as testing out his theories on the nation instead of truly fighting for its financial survival.
Tsipras explained that those discussions to stave off bankruptcy were “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, Greece found itself dangerously close to exiting the single currency area.
At stake lay not only Greece's future and those severe austerity measures demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the harsh conditions were subjected to a popular referendum, an action that plunged the EU into further existential crisis.
Although the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal with creditors which proved to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
He also claimed how his aggressive style made him more and more alone among peers, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
This account of history has been met with fury and shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
