Within his newly released personal account, named Ithaki, the ex- leader Tsipras spares no criticism while he reflects on the turbulent era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, he chose that maverick academic Yanis Varoufakis to be his finance minister largely because of the latter's international reputation and his highly compelling abilities as a public orator.
“In reality, he was, in reality, more of a celebrity rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims that his finance chief had a personal motives that included advancing Varoufakis's publications as well as testing out his game theories using Greece rather than truly fighting for the country's financial survival.
He wrote that those negotiations to avoid bankruptcy were “not just a method to secure improved terms for the country. They were an experiment, an historic chance to prove the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, the country came dangerously close to exiting the eurozone.
At stake was both the country's destiny and the severe austerity policies demanded in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move that threw the EU into deeper existential crisis.
Even though the referendum was won decisively by voters against the cuts, the prime minister was forced to ignore the result then negotiate a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, the leader knew that it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the book, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote how his confrontational style made him more and more alone among peers, endangered the country, while assisted hawks who were advocating Grexit.
This retelling of history has provoked fury and shock in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
