Within his freshly published personal account, named Ithaki, the former premier Tsipras pulls no punches while he revisits the chaotic era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, Tsipras selected that maverick economist Yanis Varoufakis as his finance minister mainly because of the latter's worldwide fame and Varoufakis's very persuasive abilities as a public orator.
“He was, in reality, more of a personality rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis had his own agenda which included promoting Varoufakis's books and testing out his game theories using Greece rather than truly advocating its economic stability.
Tsipras wrote that those discussions to avoid insolvency were “not just a method of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile discussions, Greece came perilously close to exiting the single currency area.
On the line lay both Greece's destiny but also those punishing austerity policies demanded in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, including an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh conditions were subjected to a public vote, an action which plunged the EU into a deeper crisis of identity.
Although the vote was carried decisively by voters against austerity, the prime minister had little option but to ignore the result then agree to a bailout package from creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras also wrote that his aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with shock among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
