In a newly released personal account, called Ithaki, the former prime minister Tsipras does not hold back while he examines the turbulent period of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, Tsipras chose that maverick economist Yanis Varoufakis as his treasury head largely because of the latter's worldwide fame along with Varoufakis's highly compelling skills as a communicator.
“In reality, he was, actually, more of a star and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims that Varoufakis had a personal agenda that involved advancing his books and experimenting with his own economic models on Greece rather than genuinely advocating its financial survival.
He explained that those discussions to prevent bankruptcy became “not only a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
During volatile discussions, the country found itself perilously on the brink of leaving the single currency area.
On the line lay both the country's future but also those punishing cutbacks required in exchange for financial aid from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, the prime minister was forced to reject its outcome and agree to a rescue deal from foreign lenders which proved to be tougher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
He further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The account of events has provoked anger along with shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
