In a newly released personal account, called Ithaki, the former leader Tsipras spares no criticism while he reflects on the chaotic period of Greece's debt drama.
A Controversial Choice
In Tsipras's account, he selected the unorthodox academic Yanis Varoufakis to be the finance minister mainly because of the latter's worldwide fame along with Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, truthfully, more of a star rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims that his finance chief had a personal agenda which involved advancing his books as well as experimenting with his economic models using Greece rather than genuinely advocating its financial survival.
Tsipras wrote how the negotiations to prevent insolvency were “not only a way of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line lay both the country's future but also the severe cutbacks demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those harsh bailout terms were put to a public vote, a move which plunged Europe into a further existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras had little option to ignore the result then negotiate a bailout package from creditors that turned out to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, the leader said he realised that it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also wrote how his aggressive style left him increasingly isolated among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
The account of history has been met with fury and shock among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
