Within his freshly published personal account, named Ithaki, the ex- leader Tsipras pulls no punches as he reflects on the chaotic period of Greece's financial crisis.
A Controversial Choice
As per Tsipras's account, Tsipras chose the maverick academic Yanis Varoufakis to be the treasury head mainly due to the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to public orator.
“He was, actually, more of a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief possessed a personal agenda which included promoting Varoufakis's publications as well as experimenting with his own economic models on the nation instead of genuinely advocating the country's economic stability.
He noted how those negotiations to stave off insolvency were “not only a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the truth of his economic theories.”
High-Stakes Talks
Amid volatile discussions, Greece came dangerously on the brink of leaving the single currency area.
At stake lay both the country's destiny and the punishing austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those harsh bailout terms were subjected to a popular referendum, an action that plunged the EU into further existential crisis.
Although the referendum was carried decisively by voters against austerity, the prime minister was forced to reject its outcome and negotiate a bailout package with foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes that his former ally demonstrated himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras also wrote how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
The retelling of events has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
