In a newly released personal account, called Ithaki, the former leader Alexis Tsipras does not hold back as he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, Tsipras selected that unorthodox economist Yanis Varoufakis as the finance minister primarily due to his worldwide fame along with Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief had a personal motives which included advancing his books as well as testing out his own economic models using the nation instead of genuinely advocating its economic stability.
Tsipras explained how those talks to stave off bankruptcy were “not just a way to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, Greece came perilously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny but also those severe austerity measures demanded in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to find funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were put to a popular referendum, a move which plunged the EU into a deeper crisis of identity.
Although the referendum was carried decisively by voters against austerity, Tsipras was forced to reject its outcome and agree to a bailout package from foreign lenders which proved to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This account of history has been met with fury and shock among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
