Within his recently unveiled personal account, named Ithaki, the ex- premier Tsipras does not hold back while he reflects on the turbulent period of Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, Tsipras chose that unorthodox economist Yanis Varoufakis as his treasury head largely due to his worldwide fame and Varoufakis's very persuasive skills as a communicator.
“In reality, he was, truthfully, more like a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had a personal agenda that involved advancing his publications and experimenting with his economic models on the nation instead of truly advocating its financial survival.
Tsipras wrote that those negotiations to avoid insolvency became “not only a method of achieving a better deal for the country. They were a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile negotiations, the country found itself dangerously close to leaving the single currency area.
On the line lay not only the country's future but also those punishing austerity measures required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a public vote, a move which plunged the EU into further existential crisis.
Although the vote was won decisively by voters who opposed the cuts, the prime minister had little option but to reject its outcome then negotiate a bailout package with creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he relished his new role.”
After the minister outlined a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes that his former ally had proved himself “unsuitable for an agreement that required intricate and delicate management.”
He also claimed how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
This account of events has been met with anger and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
