Within his newly released memoir, titled Ithaki, the former prime minister Tsipras does not hold back while he revisits the turbulent period of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, Tsipras selected the unorthodox economist Yanis Varoufakis to be his treasury head primarily because of his international reputation along with his “extremely attractive” skills as a public orator.
“He was, in reality, more of a celebrity and less of an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis had his own agenda that involved advancing his books and testing out his game theories using Greece instead of genuinely advocating the country's economic stability.
He explained that the discussions to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid volatile negotiations, the country came perilously close to exiting the single currency area.
At stake lay not only the country's destiny and those harsh austerity measures required in return for rescue loans by international creditors.
Failed Alternatives
Efforts to secure financing from other sources, including an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were put to a public vote, a move that plunged Europe into further crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome then negotiate a bailout package with creditors which turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy that included establishing a secondary currency as well as issuing coupons to retirees, the leader knew it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the book, the author concludes that his former ally demonstrated himself “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras also wrote how his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were advocating Grexit.
This retelling of history has provoked anger and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
