Within his newly released autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he reflects on that turbulent era during Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, Tsipras chose that maverick economist Varoufakis as his finance minister primarily because of his international reputation along with his highly compelling abilities when it came to speaker.
“He was, truthfully, more like a personality rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own motives that included promoting his books and testing out his economic models using the nation rather than genuinely advocating its economic stability.
He noted how those negotiations to prevent insolvency became “not only a way to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of his ideas.”
Critical Talks
During rollercoaster negotiations, the country came perilously close to leaving the eurozone.
On the line lay not only Greece's future but also the harsh austerity measures required in return for rescue loans from foreign lenders.
Failed Options
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action that threw Europe into further crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras had little option to ignore the result then agree to a bailout package from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and distributing coupons to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts that Varoufakis demonstrated himself “unfit for a deal demanding intricate and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, and helped hawks who were pushing for Grexit.
This retelling of history has provoked fury along with shock in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
