In a newly released personal account, named Ithaki, the former prime minister Tsipras pulls no punches while he revisits the turbulent era during Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, Tsipras selected that unorthodox economist Yanis Varoufakis to be the treasury head primarily due to the latter's international reputation and his very persuasive skills when it came to communicator.
“He was, truthfully, more like a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims that his finance chief possessed a personal motives that included advancing Varoufakis's books as well as testing out his theories on Greece instead of genuinely advocating the country's economic stability.
He explained that the negotiations to stave off bankruptcy were “not just a method of achieving improved terms for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster negotiations, the country came dangerously on the brink of leaving the eurozone.
At stake lay not only the country's future and the severe austerity policies required in exchange for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the harsh conditions were subjected to a public vote, an action which plunged Europe into further crisis of identity.
Even though the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result and agree to a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he relished his new role.”
After the minister outlined a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts that his former ally demonstrated himself “unsuitable for a deal that required complex and delicate management.”
Tsipras also wrote that Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, while assisted hardliners that were advocating Grexit.
The account of events has been met with anger and shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
