Within his newly released personal account, titled Ithaki, the ex- leader Tsipras does not hold back as he reflects on the chaotic period of Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, Tsipras appointed the maverick economist Yanis Varoufakis to be his finance minister primarily because of the latter's global profile and his highly compelling skills when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis had a personal agenda which involved promoting his books as well as testing out his own theories on the nation rather than genuinely fighting for the country's economic stability.
Tsipras noted how those talks to avoid insolvency were “not only a method to secure a better deal for the country. They became an experiment, a monumental chance to prove the truth of his ideas.”
Critical Negotiations
During tense negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was both the country's future but also the punishing austerity measures required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh bailout terms were put to a popular referendum, a move which threw Europe into a further crisis of identity.
Even though the referendum was won decisively by voters against the cuts, the prime minister was forced to ignore the result then agree to a bailout package from creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, the leader knew it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
He further claimed how his confrontational approach made him more and more alone among peers, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence on the matter.
