Within his freshly published personal account, titled Ithaki, the former prime minister Tsipras pulls no punches as he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, Tsipras appointed the maverick economist Yanis Varoufakis as the treasury head primarily due to the latter's worldwide fame along with his highly compelling abilities as a speaker.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief had a personal agenda that involved advancing his publications and experimenting with his own game theories using the nation rather than genuinely fighting for its financial survival.
He noted that those discussions to prevent bankruptcy were “not only a method of achieving improved terms for Greece. They became a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, Greece came dangerously close to leaving the single currency area.
At stake lay both Greece's destiny and those harsh austerity measures required in return for bailout funds by international creditors.
Failed Options
Efforts to find financing from other sources, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, the punitive bailout terms were subjected to a popular referendum, a move which plunged the EU into further existential crisis.
Although the referendum was carried decisively by those against austerity, the prime minister had little option to ignore the result and negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency and distributing vouchers to pensioners, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
He further claimed how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
