Within his recently unveiled personal account, named Ithaki, the former premier Tsipras does not hold back while he reflects on that chaotic era of Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, Tsipras selected the unorthodox academic Yanis Varoufakis as his treasury head largely because of the latter's global profile along with his highly compelling abilities when it came to speaker.
“He was, in reality, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief possessed a personal agenda that involved promoting Varoufakis's publications and testing out his own theories on Greece rather than truly advocating its financial survival.
He explained that those discussions to prevent insolvency became “not only a way of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
During volatile negotiations, the country came dangerously close to leaving the single currency area.
At stake lay both Greece's future and those harsh cutbacks demanded in return for bailout funds by foreign lenders.
Failed Options
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result and agree to a bailout package with creditors that proved to be tougher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement that required complex and delicate handling.”
He further wrote that Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
This account of history has been met with anger along with shock among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
