Within his freshly published personal account, titled Ithaki, the former premier Tsipras does not hold back while he examines that chaotic period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, Tsipras chose the maverick academic Yanis Varoufakis as his treasury head primarily because of his worldwide fame along with his highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had a personal motives which involved advancing his books and experimenting with his own theories on Greece rather than genuinely advocating its financial survival.
Tsipras wrote that those talks to prevent bankruptcy were “not only a way to secure improved terms for Greece. They became a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself dangerously close to leaving the eurozone.
On the line lay not only the country's future and those harsh austerity measures demanded in exchange for financial aid from international creditors.
Failed Options
Attempts to secure funds from other sources, including an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, an action that threw the EU into further crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be tougher.
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 graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included creating a parallel currency as well as distributing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes that Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive management.”
He further claimed that Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, and helped hardliners who were pushing for Grexit.
This account of events has provoked anger along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
