In a freshly published personal account, called Ithaki, the former leader Tsipras does not hold back while he reflects on that turbulent era during Greece's debt drama.
An Unconventional Choice
In Tsipras's account, he appointed that unorthodox economist Yanis Varoufakis as his treasury head mainly due to his worldwide fame and Varoufakis's highly compelling abilities as a speaker.
“He was, in reality, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis possessed his own motives which involved promoting Varoufakis's publications and testing out his own theories on Greece instead of genuinely advocating its economic stability.
Tsipras wrote that those negotiations to prevent bankruptcy were “not only a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece found itself perilously close to leaving the eurozone.
On the line was both Greece's future but also the harsh cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action which plunged Europe into deeper crisis of identity.
Although the referendum was carried decisively by voters against austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package from creditors which turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and issuing coupons to pensioners, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts how his former ally had proved himself “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras also claimed that his aggressive style left him increasingly isolated among peers, put Greece at risk, while assisted hawks who were pushing for Grexit.
The retelling of history has been met with fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
