Within his recently unveiled personal account, named Ithaki, the ex- leader Tsipras does not hold back as he reflects on the chaotic period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, Tsipras appointed that unorthodox academic Yanis Varoufakis to be the treasury head largely due to the latter's worldwide fame and Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader alleges how his finance chief had a personal agenda which included advancing his books as well as experimenting with his game theories on the nation instead of genuinely advocating its financial survival.
He wrote how the talks to prevent bankruptcy were “not only a method to secure a better deal for the country. They became a test, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
During tense discussions, the country came dangerously close to exiting the single currency area.
At stake lay not only the country's destiny but also the harsh austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were put to a popular referendum, a move that threw the EU into a deeper crisis of identity.
Although the vote was carried resoundingly by voters against austerity, the prime minister was forced but to ignore the result then agree to a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who drew publicity, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive handling.”
He further wrote how Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The retelling of history has provoked fury and shock among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
