Within his freshly published personal account, called Ithaki, the ex- prime minister Tsipras does not hold back while he reflects on the chaotic era of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras selected that unorthodox economist Yanis Varoufakis as his treasury head largely because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, actually, more like a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how his finance chief possessed a personal motives which included promoting Varoufakis's books as well as testing out his own theories on Greece instead of genuinely fighting for its economic stability.
Tsipras explained how those negotiations to avoid insolvency became “not just a method of achieving improved terms for the country. They became an experiment, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid volatile negotiations, the country found itself perilously on the brink of leaving the single currency area.
On the line was both Greece's destiny but also the punishing cutbacks demanded in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were put to a popular referendum, an action that threw the EU into a further crisis of identity.
Although the vote was won resoundingly by those against austerity, the prime minister had little option to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Lasting Criticism
In the book, the author asserts that Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and delicate management.”
He also claimed how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
