In a recently unveiled personal account, named Ithaki, the former premier Tsipras spares no criticism while he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, Tsipras selected the unorthodox academic Yanis Varoufakis as his treasury head mainly due to the latter's worldwide fame along with his very persuasive skills when it came to speaker.
“He was, actually, more like a celebrity and less of an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief possessed a personal agenda that involved advancing Varoufakis's publications and experimenting with his game theories on the nation rather than genuinely advocating the country's economic stability.
Tsipras wrote that the negotiations to prevent insolvency became “not just a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself perilously close to exiting the eurozone.
At stake was both Greece's future and the punishing austerity policies required in return for bailout funds by international creditors.
Failed Options
Efforts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those excoriating bailout terms were put to a public vote, an action that plunged the EU into a further existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras had little option but to reject its outcome and agree to a bailout package from creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and distributing vouchers to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
Tsipras also wrote how his aggressive approach made him more and more alone with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.
The retelling of events has been met with fury and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
