In a freshly published autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's recollections, Tsipras selected that maverick academic Yanis Varoufakis as his finance minister mainly due to the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras claims that his finance chief had his own agenda which included promoting his books and testing out his theories using the nation instead of genuinely advocating its economic stability.
He explained that those discussions to prevent bankruptcy were “not only a method to secure a better deal for the country. They were an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country found itself perilously on the brink of leaving the eurozone.
At stake was both the country's future but also those harsh austerity policies required in return for financial aid from international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, an action which threw Europe into a further existential crisis.
Although the vote was carried decisively by those who opposed austerity, Tsipras had little option to ignore the result then agree to a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
He also wrote that his aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for Grexit.
The retelling of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
