In a freshly published personal account, called Ithaki, the former premier Tsipras spares no criticism as he examines the turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's account, he appointed the unorthodox economist Yanis Varoufakis to be his treasury head mainly because of his worldwide fame along with his highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief had his own agenda which involved advancing Varoufakis's books and experimenting with his own theories on Greece rather than truly advocating its financial survival.
He wrote how the negotiations to prevent insolvency were “not only a way of achieving improved terms for Greece. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
During rollercoaster discussions, the country found itself perilously on the brink of exiting the eurozone.
At stake was not only Greece's destiny but also the punishing austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and U-Turn
That summer, those harsh conditions were subjected to a public vote, a move which plunged Europe into a further existential crisis.
Although the referendum was won decisively by those against austerity, Tsipras was forced but to reject its outcome and agree to a bailout package from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally had proved himself “unfit for an agreement demanding complex and delicate handling.”
He also claimed that Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were advocating Grexit.
This retelling of events has been met with anger and shock in some quarters, while the former minister has so far maintained a deafening silence on the matter.
