Within his freshly published personal account, called Ithaki, the former premier Tsipras does not hold back while he examines that turbulent period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, he selected the maverick economist Yanis Varoufakis as his finance minister mainly because of his global profile along with his highly compelling skills when it came to communicator.
“He was, in reality, more of a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis possessed his own agenda that included advancing his publications as well as testing out his economic models using Greece instead of truly advocating the country's economic stability.
Tsipras wrote that the discussions to prevent insolvency were “not just a method to secure improved terms for Greece. They were a test, a monumental opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid rollercoaster negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line was not only the country's future and those severe austerity policies required in return for bailout funds from international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option to ignore the result then negotiate a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras knew that it was the end questioning him: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”
Tsipras also wrote how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
This account of history has been met with anger and shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
