In a freshly published personal account, titled Ithaki, the former leader Tsipras spares no criticism as he examines that chaotic era of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, he appointed that unorthodox economist Yanis Varoufakis as his treasury head largely due to his global profile along with his “extremely attractive” skills when it came to speaker.
“He was, actually, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges that his finance chief had his own motives that included promoting Varoufakis's books and testing out his economic models using the nation rather than truly fighting for its economic stability.
He explained how the negotiations to prevent bankruptcy were “not only a method to secure a better deal for Greece. They became an experiment, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
During tense negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line lay not only the country's future and those punishing austerity measures required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, the harsh bailout terms were put to a public vote, an action which threw Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts that his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras further claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
