Within his recently unveiled personal account, called Ithaki, the ex- leader Tsipras pulls no punches while he reflects on that chaotic period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, he chose that maverick academic Yanis Varoufakis to be his treasury head largely due to his worldwide fame and Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal motives that involved advancing Varoufakis's books and testing out his theories on the nation instead of truly fighting for the country's financial survival.
Tsipras explained that those talks to avoid bankruptcy became “not only a method to secure a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was not only the country's future and the severe cutbacks demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, an action which plunged the EU into a further existential crisis.
Even though the vote was carried decisively by those who opposed austerity, the prime minister was forced but to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency and distributing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive management.”
He further claimed how his confrontational style made him more and more alone among peers, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
This account of events has been met with fury along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
