Within his newly released memoir, named Ithaki, the former prime minister Tsipras spares no criticism as he revisits the chaotic period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, Tsipras chose the unorthodox economist Yanis Varoufakis as the treasury head mainly due to his worldwide fame and his very persuasive skills when it came to communicator.
“He was, actually, more of a star rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader alleges how his finance chief had a personal agenda that involved advancing his publications and experimenting with his own theories using Greece rather than truly fighting for the country's economic stability.
Tsipras wrote how those talks to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They became a test, a monumental chance to prove the truth of his ideas.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
At stake lay not only Greece's destiny but also the harsh austerity measures required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the harsh conditions were subjected to a popular referendum, an action that plunged Europe into a deeper crisis of identity.
Even though the referendum was carried resoundingly by those against the cuts, Tsipras had little option to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and sensitive handling.”
He further claimed that his confrontational style left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of events has provoked anger and shock among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
