Within his newly released personal account, named Ithaki, the former leader Tsipras pulls no punches while he examines the chaotic period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, Tsipras selected the unorthodox academic Yanis Varoufakis as the treasury head primarily due to the latter's global profile along with Varoufakis's very persuasive skills as a public orator.
“He was, truthfully, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had his own motives that involved advancing Varoufakis's publications and testing out his own theories using Greece instead of truly advocating the country's economic stability.
Tsipras explained how the talks to avoid bankruptcy became “not only a method of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came dangerously close to leaving the eurozone.
At stake was not only Greece's future but also the harsh austerity policies required in return for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the punitive conditions were subjected to a public vote, an action that plunged Europe into further crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, the prime minister was forced but to ignore the result and agree to a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who graced the covers of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the book, the author concludes how his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras also wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
The account of history has been met with anger and shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
