In a freshly published personal account, called Ithaki, the ex- leader Tsipras pulls no punches as he revisits that turbulent period of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed the maverick economist Yanis Varoufakis as his treasury head primarily because of his worldwide fame along with Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges that his finance chief possessed his own motives that involved promoting Varoufakis's publications and testing out his game theories on Greece rather than truly fighting for the country's economic stability.
Tsipras wrote how the discussions to prevent bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, a monumental chance to prove the validity of his theories.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was not only Greece's future but also those harsh austerity measures demanded in return for bailout funds by international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the punitive conditions were put to a popular referendum, a move that plunged Europe into further existential crisis.
Even though the vote was carried decisively by those who opposed austerity, the prime minister had little option to ignore the result then agree to a rescue deal from creditors which proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, the leader knew that it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author concludes that his former ally had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
He also wrote that his confrontational style left him more and more alone among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
This account of history has provoked anger and shock among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
