In a newly released personal account, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he revisits the turbulent period of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, he selected the unorthodox economist Yanis Varoufakis to be his finance minister largely due to the latter's global profile along with his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis had his own agenda which included advancing his publications as well as testing out his own economic models on the nation instead of genuinely advocating the country's economic stability.
He wrote that the talks to avoid insolvency were “not just a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile negotiations, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay not only Greece's destiny but also those punishing cutbacks demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over and asked him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras further claimed that his confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
This account of history has provoked anger along with shock in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
