Within his newly released personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras selected the maverick economist Yanis Varoufakis as the treasury head primarily due to the latter's international reputation along with his very persuasive skills when it came to communicator.
“In reality, he was, actually, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief had a personal agenda which involved promoting his publications as well as testing out his own game theories using Greece instead of truly advocating the country's economic stability.
Tsipras wrote that those discussions to stave off bankruptcy became “not only a method to secure improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, Greece found itself dangerously close to exiting the single currency area.
At stake lay both the country's future but also the severe austerity policies demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating conditions were subjected to a popular referendum, an action which plunged the EU into further existential crisis.
Although the referendum was carried decisively by those who opposed austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal from creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a contingency plan that included creating a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Enduring Criticism
In the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further claimed how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
