Within his freshly published personal account, titled Ithaki, the former leader Tsipras spares no criticism as he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, Tsipras selected the unorthodox economist Yanis Varoufakis as his treasury head largely because of his global profile along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, actually, more of a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests that his finance chief had a personal agenda that included promoting Varoufakis's publications and experimenting with his game theories using the nation instead of truly fighting for the country's economic stability.
Tsipras wrote how those negotiations to prevent insolvency became “not just a method of achieving improved terms for Greece. They were an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid tense discussions, Greece came perilously close to leaving the single currency area.
At stake lay not only Greece's future and the severe austerity policies demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, an action that threw the EU into deeper existential crisis.
Even though the vote was won resoundingly by voters against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally had proved himself “unsuitable for a deal demanding intricate and delicate management.”
Tsipras further wrote how his confrontational approach left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
This retelling of events has provoked anger and stunned disbelief among certain groups, while the former minister has maintained a deafening silence on the matter.
