In a newly released autobiography, named Ithaki, the ex- premier Tsipras does not hold back as he examines that chaotic period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, Tsipras chose the unorthodox academic Yanis Varoufakis as the treasury head largely because of the latter's international reputation along with Varoufakis's very persuasive skills as a communicator.
“He was, in reality, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis had a personal agenda that included advancing his books as well as experimenting with his own game theories on Greece instead of truly fighting for its economic stability.
He explained that the talks to stave off bankruptcy were “not only a method to secure a better deal for the country. They were an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously close to exiting the single currency area.
At stake was not only the country's destiny and those severe austerity policies demanded in exchange for financial aid by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those punitive conditions were put to a popular referendum, an action which plunged Europe into a deeper existential crisis.
Although the vote was carried decisively by voters who opposed the cuts, the prime minister had little option but to reject its outcome then agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy that included creating a secondary currency and distributing coupons to retirees, the leader said he realised it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author concludes how Varoufakis demonstrated himself “unsuitable for a deal that required complex and delicate management.”
He further claimed how his confrontational style made him more and more alone with colleagues, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
The account of events has provoked anger along with shock among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
