Within his recently unveiled autobiography, named Ithaki, the ex- leader Tsipras spares no criticism as he revisits that turbulent period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras appointed the maverick economist Yanis Varoufakis to be his finance minister primarily because of the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to speaker.
“He was, in reality, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal agenda that involved promoting his books as well as experimenting with his economic models on the nation rather than genuinely advocating the country's financial survival.
Tsipras explained how those discussions to prevent insolvency were “not just a method of achieving improved terms for the country. They became a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's future and the harsh cutbacks required in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh conditions were subjected to a popular referendum, an action which threw Europe into a deeper existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister had little option but to reject its outcome then negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included creating a secondary currency and issuing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also wrote that his confrontational approach left him more and more alone with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
This account of history has provoked fury along with shock among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
