Within his freshly published personal account, titled Ithaki, the former premier Tsipras does not hold back while he revisits that chaotic period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, he chose the maverick academic Yanis Varoufakis to be the treasury head largely due to his international reputation along with his highly compelling skills as a speaker.
“In reality, he was, actually, more of a star rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader alleges that his finance chief had his own motives which involved advancing Varoufakis's publications as well as testing out his theories on Greece instead of truly fighting for its financial survival.
He explained how the negotiations to avoid insolvency were “not just a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid tense discussions, Greece came perilously close to leaving the eurozone.
On the line was both Greece's destiny but also the severe austerity measures required in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, including an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh conditions were put to a public vote, an action that threw the EU into further crisis of identity.
Even though the referendum was carried resoundingly by voters against austerity, Tsipras was forced but to ignore the result then negotiate a bailout package from foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes that his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive management.”
He further claimed that Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
This retelling of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
