Within his newly released personal account, titled Ithaki, the former premier Tsipras spares no criticism as he revisits the chaotic era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, Tsipras chose the maverick academic Yanis Varoufakis as his finance minister primarily because of the latter's global profile and his highly compelling abilities as a communicator.
“In reality, he was, actually, more like a personality rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader alleges how Varoufakis possessed a personal agenda which included advancing his books and testing out his game theories on Greece instead of truly fighting for its economic stability.
He explained that those negotiations to avoid insolvency became “not only a way to secure a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster discussions, Greece came perilously close to leaving the eurozone.
On the line was not only the country's future and the harsh austerity policies required in exchange for rescue loans from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the referendum was carried decisively by those who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal with creditors which turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan involving creating a secondary currency and distributing vouchers to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally had proved himself “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras also wrote how his aggressive style left him increasingly isolated among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
This retelling of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
