In a newly released personal account, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed that unorthodox economist Yanis Varoufakis to be his finance minister mainly because of his international reputation along with his highly compelling skills when it came to speaker.
“He was, truthfully, more like a personality and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis possessed a personal agenda which involved advancing his publications and experimenting with his own economic models on the nation rather than genuinely advocating the country's financial survival.
Tsipras noted that the negotiations to avoid insolvency were “not just a way to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, the country found itself perilously close to leaving the eurozone.
At stake was not only the country's future but also the punishing austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Efforts to find funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those excoriating bailout terms were put to a public vote, an action that threw Europe into a deeper crisis of identity.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister had little option to ignore the result and agree to a rescue deal from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He also wrote that Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, and assisted hawks that were pushing for Grexit.
The retelling of history has been met with fury and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
