In a newly released autobiography, titled Ithaki, the former premier Tsipras pulls no punches as he examines the turbulent period of Greece's debt drama.
A Controversial Appointment
According to Tsipras's account, he selected that unorthodox academic Yanis Varoufakis to be the treasury head largely because of his worldwide fame along with his very persuasive skills as a public orator.
“In reality, he was, actually, more like a star rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras alleges how his finance chief possessed his own agenda which included advancing his books and experimenting with his economic models on the nation instead of truly advocating the country's financial survival.
He noted that the negotiations to stave off bankruptcy became “not just a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the validity of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself perilously close to leaving the single currency area.
At stake lay both the country's future and those severe austerity measures required in return for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, a move which threw Europe into deeper crisis of identity.
Although the vote was won decisively by those who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate management.”
He further claimed how his confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
The account of events has been met with fury and stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
