Within his recently unveiled personal account, called Ithaki, the former premier Tsipras does not hold back while he examines the chaotic period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, Tsipras chose that maverick academic Yanis Varoufakis to be the finance minister mainly because of his international reputation and Varoufakis's “extremely attractive” abilities as a public orator.
“He was, actually, more like a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis had a personal motives that included promoting Varoufakis's books as well as testing out his own theories using Greece instead of genuinely fighting for its economic stability.
He noted that those discussions to stave off insolvency became “not just a way to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself perilously close to leaving the eurozone.
At stake was both the country's future and those punishing austerity policies required in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were subjected to a public vote, a move which plunged Europe into further existential crisis.
Although the vote was won decisively by voters who opposed austerity, the prime minister had little option to ignore the result then agree to a rescue deal from creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts that his former ally had proved himself “unfit for a deal demanding complex and sensitive handling.”
He also claimed how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
This account of events has been met with fury and shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
