In a recently unveiled personal account, titled Ithaki, the former premier Tsipras does not hold back as he examines the turbulent era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's recollections, he appointed the maverick economist Yanis Varoufakis as the treasury head mainly due to his international reputation and Varoufakis's “extremely attractive” abilities as a public orator.
“He was, actually, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis had his own agenda that included advancing Varoufakis's publications and experimenting with his game theories on the nation rather than truly advocating its economic stability.
He explained that the talks to stave off bankruptcy were “not just a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece came perilously close to leaving the eurozone.
On the line was not only the country's future and the severe cutbacks required in return for financial aid by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a popular referendum, an action which threw Europe into a deeper crisis of identity.
Although the vote was carried decisively by those against the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package from foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to pensioners, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
The account of history has provoked anger along with shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
