In a freshly published personal account, named Ithaki, the ex- premier Tsipras spares no criticism while he reflects on that chaotic era of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, Tsipras appointed the maverick economist Yanis Varoufakis as the finance minister mainly due to his international reputation along with his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief had his own motives that included advancing his books and testing out his own theories using Greece instead of truly advocating the country's economic stability.
He noted how the talks to avoid bankruptcy were “not only a method to secure a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake was not only the country's future but also those punishing cutbacks demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those harsh bailout terms were put to a popular referendum, an action which threw the EU into a further existential crisis.
Even though the vote was carried decisively by voters against the cuts, Tsipras had little option to ignore the result and agree to a bailout package with creditors that proved to be tougher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The retelling of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence on the matter.
