Within his newly released personal account, named Ithaki, the ex- leader Tsipras pulls no punches while he reflects on the chaotic era of Greece's economic turmoil.
A Controversial Choice
In the ex-PM's account, Tsipras chose the unorthodox economist Varoufakis to be the finance minister largely because of the latter's worldwide fame and his “extremely attractive” skills when it came to public orator.
“In reality, he was, in reality, more of a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims that his finance chief possessed a personal agenda which included promoting Varoufakis's publications and experimenting with his economic models on the nation instead of genuinely advocating its economic stability.
Tsipras explained that the talks to prevent insolvency were “not just a method to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line lay not only Greece's future but also those harsh austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action which threw the EU into further existential crisis.
Although the referendum was won resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome and negotiate a bailout package from creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing vouchers to retirees, the leader knew it was game over and asked him: “Are you serious?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself to be “unfit for a deal that required intricate and sensitive handling.”
Tsipras further wrote how his confrontational approach made him increasingly isolated among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
