In a freshly published personal account, named Ithaki, the ex- premier Tsipras pulls no punches as he examines that chaotic period of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, Tsipras appointed the unorthodox academic Yanis Varoufakis to be his treasury head mainly due to the latter's worldwide fame along with his “extremely attractive” abilities when it came to communicator.
“He was, actually, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief had a personal agenda which involved advancing Varoufakis's books and testing out his economic models using the nation instead of genuinely advocating its economic stability.
He explained that those talks to prevent insolvency were “not just a way to secure a better deal for Greece. They were a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, the country came dangerously close to leaving the eurozone.
On the line lay both the country's destiny and those severe cutbacks required in return for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were subjected to a public vote, a move which threw the EU into further existential crisis.
Even though the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package with creditors that proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further wrote how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while helped hawks that were advocating Grexit.
This retelling of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
