In a newly released personal account, called Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on the chaotic era of Greece's financial crisis.
A Controversial Choice
In Tsipras's account, Tsipras appointed that maverick academic Yanis Varoufakis to be the finance minister mainly because of his international reputation along with his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a personality rather than an economist,” wrote Tsipras.
Clashing Agendas
The former leader alleges how his finance chief possessed his own agenda which involved promoting Varoufakis's publications and testing out his own economic models on Greece instead of truly fighting for its economic stability.
Tsipras noted how those talks to avoid bankruptcy were “not only a way to secure a better deal for the country. They became a test, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
Amid rollercoaster discussions, the country came perilously on the brink of leaving the single currency area.
On the line was not only the country's future but also the severe austerity policies required in return for bailout funds by international creditors.
Failed Options
Attempts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, an action that plunged Europe into deeper existential crisis.
Although the vote was carried decisively by voters against austerity, Tsipras had little option to reject its outcome and negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving creating a secondary currency as well as issuing coupons to pensioners, the leader knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive handling.”
He further wrote how his aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
This account of events has provoked anger and shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
