In a freshly published personal account, called Ithaki, the former premier Tsipras pulls no punches while he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, Tsipras selected the unorthodox academic Yanis Varoufakis as his treasury head mainly due to his global profile along with his highly compelling skills when it came to speaker.
“In reality, he was, in reality, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief had his own agenda which involved promoting his books as well as experimenting with his own economic models using the nation rather than truly advocating the country's economic stability.
He wrote how those negotiations to avoid insolvency became “not only a way to secure a better deal for the country. They became an experiment, a monumental chance to prove the validity of his theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
At stake was both the country's future and the harsh austerity policies required in exchange for financial aid from foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, an action that plunged the EU into further existential crisis.
Even though the vote was carried resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then agree to a bailout package with creditors that proved to be more severe.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts how his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
He further claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, and helped hawks that were pushing for Grexit.
This retelling of events has provoked anger along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
