Within his freshly published personal account, named Ithaki, the ex- leader Tsipras pulls no punches as he examines that chaotic era during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he chose that unorthodox academic Yanis Varoufakis as his finance minister largely due to the latter's global profile along with his highly compelling abilities when it came to speaker.
“He was, in reality, more like a star and less of an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis possessed his own motives that included promoting his books as well as testing out his own theories using the nation rather than genuinely advocating its financial survival.
Tsipras noted how those discussions to avoid insolvency became “not just a way of achieving a better deal for the country. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile negotiations, the country came perilously on the brink of exiting the single currency area.
At stake was both Greece's future but also those punishing austerity policies required in exchange for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action that threw the EU into further existential crisis.
Although the vote was carried decisively by those who opposed austerity, the prime minister had little option to ignore the result then agree to a bailout package with creditors that turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who attracted publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further wrote how his confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of history has provoked anger along with shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
