In a freshly published personal account, called Ithaki, the ex- prime minister Tsipras does not hold back as he examines that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, he chose that maverick academic Yanis Varoufakis as the treasury head primarily due to his international reputation and his “extremely attractive” skills when it came to communicator.
“In reality, he was, actually, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader claims how his finance chief had his own agenda which involved promoting Varoufakis's books as well as testing out his theories on the nation instead of truly fighting for the country's economic stability.
He noted how the discussions to avoid bankruptcy became “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid tense negotiations, the country came perilously on the brink of leaving the eurozone.
On the line lay both the country's future but also those punishing cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those punitive conditions were put to a popular referendum, a move that plunged Europe into deeper existential crisis.
Even though the referendum was carried decisively by voters against the cuts, Tsipras was forced to ignore the result and negotiate a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
When the minister proposed a backup strategy that included establishing a parallel currency and issuing vouchers to retirees, the leader knew that it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the book, the author concludes that his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras further wrote how his confrontational style left him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
