In a newly released personal account, named Ithaki, the ex- leader Tsipras spares no criticism while he revisits that turbulent era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's recollections, he selected the unorthodox academic Yanis Varoufakis to be his treasury head largely because of the latter's international reputation and Varoufakis's “extremely attractive” abilities as a communicator.
“He was, truthfully, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader alleges that his finance chief had a personal motives that included promoting his publications as well as testing out his game theories on the nation instead of genuinely fighting for its financial survival.
Tsipras explained that those talks to stave off bankruptcy were “not only a way to secure a better deal for the country. They were an experiment, an historic opportunity to prove the validity of his economic theories.”
High-Stakes Talks
During rollercoaster negotiations, the country came dangerously on the brink of exiting the single currency area.
On the line was not only Greece's destiny but also those severe austerity measures required in exchange for rescue loans by foreign lenders.
Failed Options
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move that threw the EU into a deeper existential crisis.
Although the vote was carried decisively by those against austerity, the prime minister was forced to ignore the result then negotiate a bailout package from creditors which turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency and distributing vouchers to retirees, the leader said he realised it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts how his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote how Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
