Within his freshly published personal account, named Ithaki, the ex- premier Tsipras spares no criticism as he revisits that chaotic era during Greece's debt drama.
A Controversial Choice
In the ex-PM's account, Tsipras chose that maverick academic Yanis Varoufakis to be the finance minister primarily due to his global profile along with Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had his own agenda that included advancing his publications and testing out his own game theories using the nation instead of genuinely fighting for its financial survival.
Tsipras wrote how those talks to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, the country found itself perilously on the brink of leaving the eurozone.
At stake lay not only the country's destiny but also those harsh cutbacks required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the harsh bailout terms were subjected to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Although the referendum was won decisively by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a rescue deal with creditors which proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and sensitive management.”
He also wrote how Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with anger and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
