Within his newly released personal account, named Ithaki, the ex- premier Tsipras spares no criticism as he revisits the chaotic period of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, he appointed that maverick academic Yanis Varoufakis as the treasury head largely due to his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, truthfully, more of a star and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis had his own agenda which involved advancing his publications as well as testing out his own game theories using Greece rather than genuinely advocating the country's financial survival.
Tsipras noted that the negotiations to prevent insolvency became “not just a way to secure a better deal for Greece. They became a test, a monumental opportunity to demonstrate the truth of his theories.”
Critical Negotiations
During volatile discussions, Greece came perilously close to leaving the single currency area.
On the line lay not only Greece's destiny and the punishing austerity measures required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were put to a popular referendum, an action that threw the EU into a further existential crisis.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced but to ignore the result and agree to a rescue deal with foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image 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 the minister outlined a backup strategy that included establishing a secondary currency and distributing coupons to retirees, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally had proved himself “unfit for an agreement demanding intricate and delicate handling.”
He also wrote that his aggressive approach left him increasingly isolated among peers, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief in some quarters, whereas the former minister has kept a deafening silence on the matter.
