In a recently unveiled memoir, named Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on the turbulent era of Greece's debt drama.
A Controversial Appointment
In Tsipras's version, he selected the maverick economist Yanis Varoufakis as the treasury head primarily due to his international reputation along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had his own agenda that included promoting Varoufakis's publications as well as testing out his economic models using the nation instead of genuinely advocating the country's economic stability.
He noted how those discussions to prevent insolvency were “not just a method to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself dangerously on the brink of leaving the single currency area.
At stake was not only the country's destiny and the harsh cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the harsh conditions were subjected to a public vote, a move which threw Europe into a further crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras also claimed that his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
