In a freshly published autobiography, called Ithaki, the former premier Tsipras pulls no punches as he revisits that chaotic period of Greece's debt drama.
A Controversial Choice
In the ex-PM's account, Tsipras appointed that maverick academic Yanis Varoufakis to be the treasury head mainly due to his global profile and his very persuasive abilities as a speaker.
“He was, in reality, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims how his finance chief possessed a personal agenda that involved advancing his books and experimenting with his theories on Greece instead of genuinely advocating the country's economic stability.
Tsipras wrote how the talks to prevent bankruptcy became “not just a method to secure a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
During volatile negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line was both Greece's future and those punishing austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those punitive bailout terms were subjected to a popular referendum, a move which plunged Europe into further existential crisis.
Even though the vote was won resoundingly by those against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal with creditors which proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a parallel currency as well as distributing vouchers to pensioners, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive handling.”
He further claimed how his aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
This account of history has provoked fury and stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
