Within his recently unveiled memoir, named Ithaki, the ex- premier Tsipras pulls no punches while he revisits the turbulent era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's account, he appointed the unorthodox academic Yanis Varoufakis as the treasury head mainly because of his worldwide fame and Varoufakis's very persuasive abilities as a communicator.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief had a personal agenda that included promoting Varoufakis's publications and testing out his own theories using Greece instead of genuinely fighting for its financial survival.
He noted that the talks to prevent bankruptcy were “not only a way to secure a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously close to exiting the eurozone.
On the line was both Greece's destiny and those harsh austerity measures required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move which plunged the EU into deeper existential crisis.
Although the referendum was carried decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package with creditors which turned out to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author concludes how his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras also claimed that Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence on the matter.
