In a newly released personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism as he examines that turbulent era of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's version, he appointed that unorthodox academic Yanis Varoufakis to be his treasury head mainly because of the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a speaker.
“He was, in reality, more of a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief possessed a personal motives that included promoting Varoufakis's books and testing out his own game theories on Greece instead of genuinely advocating the country's economic stability.
He wrote how those negotiations to avoid insolvency were “not only a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
During tense discussions, the country found itself perilously close to exiting the eurozone.
On the line was both the country's destiny and the severe austerity measures demanded in return for financial aid by foreign lenders.
Failed Options
Efforts to secure financing from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
That summer, those punitive conditions were put to a public vote, an action which plunged the EU into a deeper crisis of identity.
Although the vote was won resoundingly by those against austerity, the prime minister had little option to reject its outcome then negotiate a bailout package from creditors which turned out to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who drew publicity, who appeared on the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and delicate management.”
Tsipras further claimed that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of history has provoked fury and shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
