Within his newly released personal account, called Ithaki, the ex- premier Tsipras spares no criticism as he examines the turbulent period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, he selected the maverick economist Yanis Varoufakis as his treasury head mainly due to his worldwide fame along with Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal motives that involved promoting Varoufakis's books and experimenting with his own theories on the nation instead of truly fighting for the country's financial survival.
He noted how those negotiations to prevent insolvency became “not just a method of achieving improved terms for the country. They became a test, an historic chance to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself perilously close to exiting the single currency area.
On the line was both the country's destiny but also the severe austerity measures demanded in return for rescue loans by international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action which plunged the EU into a further crisis of identity.
Even though the vote was won resoundingly by those against the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal from creditors which proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who appeared on the covers of publications the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement demanding complex and sensitive handling.”
He also claimed how Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while helped hawks who were advocating Grexit.
The account of events has been met with fury along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
