Within his freshly published autobiography, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the turbulent period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's version, he selected the maverick academic Varoufakis as the finance minister mainly because of his global profile and Varoufakis's “extremely attractive” skills as a speaker.
“He was, actually, more of a star rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief possessed his own motives that involved promoting his publications and experimenting with his own economic models on the nation instead of truly advocating the country's financial survival.
Tsipras wrote that those talks to avoid insolvency were “not just a way of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Talks
During tense negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny but also the punishing cutbacks required in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece would be equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a popular referendum, a move that plunged the EU into a further existential crisis.
Although the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome and agree to a bailout package with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of publications the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, the leader knew that it was the end and asked him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes that Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate management.”
Tsipras further claimed that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
The retelling of events has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
