In a freshly published personal account, named Ithaki, the ex- prime minister Tsipras pulls no punches while he reflects on that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, Tsipras chose that maverick economist Yanis Varoufakis to be the treasury head primarily because of his worldwide fame and his highly compelling abilities as a public orator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges how his finance chief had a personal agenda that involved promoting Varoufakis's books as well as testing out his theories on the nation instead of genuinely fighting for its financial survival.
Tsipras noted how those discussions to prevent bankruptcy were “not only a way of achieving improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
During volatile negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake was not only the country's destiny but also the severe austerity measures demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent appeal to Russia 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
That summer, those excoriating conditions were put to a public vote, an action which plunged Europe into a further existential crisis.
Even though the referendum was won resoundingly by those who opposed austerity, the prime minister had little option to reject its outcome and agree to a rescue deal from creditors which turned out to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included creating a parallel currency and issuing vouchers to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
Tsipras also claimed how his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
The account of history has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
