Within his recently unveiled personal account, called Ithaki, the ex- prime minister Tsipras pulls no punches while he reflects on that turbulent era during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, he selected the unorthodox academic Yanis Varoufakis as his treasury head largely due to his international reputation and Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief had a personal agenda which involved promoting Varoufakis's books as well as testing out his game theories on the nation instead of truly advocating the country's financial survival.
Tsipras wrote how those discussions to prevent bankruptcy were “not only a method to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself perilously close to exiting the eurozone.
On the line lay not only the country's future and those harsh austerity policies demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those harsh conditions were put to a popular referendum, a move that threw Europe into a further existential crisis.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing coupons to retirees, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal that required complex and sensitive handling.”
Tsipras further claimed that his confrontational style left him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with fury and shock in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
