Within his newly released personal account, named Ithaki, the former leader Tsipras pulls no punches as he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's account, Tsipras chose the maverick academic Yanis Varoufakis to be his finance minister largely because of the latter's global profile along with Varoufakis's highly compelling abilities when it came to public orator.
“He was, truthfully, more of a star and less of an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own motives which involved promoting his publications and experimenting with his own theories using Greece instead of genuinely fighting for the country's financial survival.
He explained how those discussions to stave off bankruptcy were “not just a way of achieving improved terms for the country. They were a test, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
During volatile discussions, the country found itself perilously close to exiting the single currency area.
At stake was not only Greece's destiny but also those punishing austerity measures demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move which threw the EU into a further existential crisis.
Even though the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
The account of events has provoked fury and shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
