Within his newly released personal account, called Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, he chose the maverick academic Yanis Varoufakis to be his finance minister largely because of his global profile along with his highly compelling skills when it came to communicator.
“He was, truthfully, more like a personality rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader claims that Varoufakis had a personal agenda which involved promoting his publications and experimenting with his own economic models on Greece rather than truly advocating the country's financial survival.
Tsipras explained that the negotiations to avoid insolvency became “not only a method to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Talks
During tense discussions, the country found itself perilously on the brink of exiting the single currency area.
At stake was both the country's destiny but also the severe austerity policies required in exchange for bailout funds from international creditors.
Failed Options
Efforts to secure funds elsewhere, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a popular referendum, a move that threw Europe into a further existential crisis.
Even though the vote was won decisively by those who opposed austerity, the prime minister was forced to reject its outcome then negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a secondary currency and issuing coupons to retirees, the leader knew it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes how his former ally had proved himself “unsuitable for a deal that required complex and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
