In a newly released personal account, called Ithaki, the former premier Tsipras spares no criticism while he reflects on the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, he appointed the unorthodox academic Yanis Varoufakis to be his treasury head mainly due to his international reputation and his highly compelling abilities when it came to communicator.
“He was, truthfully, more like a celebrity and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis had his own motives which included promoting Varoufakis's publications and testing out his economic models using the nation rather than truly advocating its economic stability.
Tsipras noted how the negotiations to prevent insolvency were “not only a method to secure improved terms for Greece. They became a test, a monumental chance to prove the truth of his economic theories.”
Critical Talks
Amid volatile negotiations, the country came perilously on the brink of leaving the single currency area.
On the line was both the country's future and those severe austerity policies demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those harsh bailout terms were subjected to a popular referendum, a move which plunged Europe into further existential crisis.
Even though the referendum was won decisively by those who opposed austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal with creditors which turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, the leader knew that it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and delicate management.”
He further claimed that his confrontational style left him increasingly isolated among peers, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
This account of events has been met with fury and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
