Within his newly released autobiography, titled Ithaki, the former leader Tsipras spares no criticism while he examines the turbulent period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's version, he appointed the unorthodox academic Yanis Varoufakis to be the treasury head mainly due to the latter's global profile along with Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief had a personal agenda which included advancing his publications and testing out his own game theories using the nation rather than truly advocating the country's financial survival.
He explained that the talks to stave off insolvency were “not only a method to secure improved terms for Greece. They were a test, an historic opportunity to prove the truth of his ideas.”
Critical Talks
During tense negotiations, the country came perilously on the brink of exiting the single currency area.
On the line lay both Greece's future and those punishing austerity measures required in return for financial aid by international creditors.
Failed Alternatives
Attempts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh bailout terms were put to a public vote, a move that threw the EU into deeper existential crisis.
Although the vote was carried decisively by those against the cuts, Tsipras had little option to ignore the result then agree to a rescue deal with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency and distributing vouchers to pensioners, Tsipras knew that it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
He further wrote that his aggressive style left him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
The account of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
