In a newly released memoir, named Ithaki, the ex- premier Tsipras spares no criticism as he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he appointed the maverick economist Yanis Varoufakis to be the treasury head mainly because of his global profile and Varoufakis's very persuasive skills as a public orator.
“He was, actually, more of a star rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal agenda which included advancing Varoufakis's books as well as testing out his game theories on Greece instead of truly fighting for the country's financial survival.
Tsipras explained how the discussions to prevent insolvency became “not only a way to secure a better deal for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
During volatile discussions, the country came dangerously close to exiting the eurozone.
At stake was both the country's future and those punishing austerity measures required in exchange for bailout funds from international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
That summer, those excoriating bailout terms were subjected to a public vote, an action that threw the EU into a further existential crisis.
Although the vote was carried decisively by those against the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, the leader said he realised that it was game over questioning him: “Are you serious?”
Enduring Criticism
In the book, the author concludes that his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
Tsipras further claimed how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.
The account of events has provoked fury along with shock among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
