In a recently unveiled personal account, called Ithaki, the ex- leader Tsipras pulls no punches as he reflects on the turbulent period of Greece's economic turmoil.
A Controversial Choice
In the ex-PM's account, Tsipras selected the unorthodox economist Yanis Varoufakis to be his treasury head primarily because of the latter's worldwide fame along with Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, truthfully, more like a star and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis had his own motives that included promoting Varoufakis's publications and testing out his theories using Greece instead of genuinely advocating the country's financial survival.
He noted that those talks to prevent insolvency were “not only a method to secure a better deal for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay not only the country's future but also those punishing austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece 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 bailout terms were put to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result then negotiate a bailout package with foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy that included creating a parallel currency and issuing coupons to retirees, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate handling.”
He also wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury and shock in some quarters, whereas the former minister has maintained a deafening silence on the matter.
