Within his recently unveiled personal account, called Ithaki, the ex- leader Tsipras pulls no punches as he examines the chaotic period of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, Tsipras chose the unorthodox economist Yanis Varoufakis to be his finance minister mainly because of his global profile and his highly compelling skills when it came to speaker.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed his own agenda that included promoting Varoufakis's publications as well as experimenting with his own theories on the nation instead of genuinely advocating the country's financial survival.
He noted that those discussions to prevent insolvency were “not just a method to secure improved terms for Greece. They became an experiment, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Talks
During rollercoaster discussions, the country came perilously on the brink of leaving the single currency area.
On the line lay not only the country's destiny and those punishing cutbacks demanded in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
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 conditions were put to a popular referendum, an action which threw Europe into a deeper existential crisis.
Even though the vote was won decisively by those who opposed austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
He also wrote how his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
The account of history has provoked fury along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
