Within his freshly published personal account, titled Ithaki, the former leader Tsipras pulls no punches as he revisits that turbulent era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's version, he chose that unorthodox economist Yanis Varoufakis as his treasury head largely because of the latter's global profile along with his highly compelling skills as a speaker.
“He was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief possessed his own agenda that involved promoting his publications and testing out his own game theories using the nation instead of genuinely advocating its economic stability.
He wrote that those talks to avoid bankruptcy were “not just a method of achieving improved terms for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, Greece came perilously on the brink of leaving the eurozone.
At stake lay not only the country's future but also those harsh austerity policies required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those excoriating conditions were put to a popular referendum, an action that threw the EU into a further existential crisis.
Although the referendum was won decisively by those who opposed austerity, the prime minister had little option to reject its outcome and agree to a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author asserts how Varoufakis had proved himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also claimed how his confrontational approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners that were advocating Grexit.
The retelling of history has provoked fury along with shock among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
