In a newly released personal account, called Ithaki, the ex- premier Tsipras spares no criticism while he examines that turbulent period of Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, Tsipras appointed the unorthodox economist Yanis Varoufakis to be the treasury head mainly because of his worldwide fame along with Varoufakis's highly compelling skills as a speaker.
“In reality, he was, actually, more like a personality and less of an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims how his finance chief had a personal agenda that involved promoting Varoufakis's publications as well as experimenting with his own game theories on Greece rather than truly fighting for the country's economic stability.
Tsipras wrote how the talks to prevent bankruptcy were “not only a way to secure a better deal for the country. They became an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Talks
During volatile negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake lay not only Greece's future but also the severe austerity measures required in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the punitive conditions were put to a public vote, an action which threw the EU into further existential crisis.
Although the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome then negotiate a bailout package from foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate management.”
Tsipras also claimed that his confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
