Within his freshly published personal account, called Ithaki, the former premier Tsipras does not hold back while he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, Tsipras selected that maverick economist Yanis Varoufakis as his treasury head primarily due to his international reputation and his highly compelling abilities as a communicator.
“He was, in reality, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis possessed his own agenda that included promoting his publications as well as experimenting with his own economic models using Greece instead of truly advocating the country's financial survival.
Tsipras noted how those negotiations to stave off insolvency became “not only a method of achieving a better deal for the country. They became a test, an historic chance to prove the validity of his theories.”
Critical Negotiations
Amid rollercoaster discussions, the country found itself perilously on the brink of exiting the eurozone.
At stake lay both Greece's future and those punishing austerity policies required in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, an action which plunged the EU into a further existential crisis.
Although the vote was won decisively by those against austerity, the prime minister was forced but to reject its outcome and agree to a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The account of events has provoked anger along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
