In a freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines the turbulent era during Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, he chose that maverick academic Varoufakis as his finance minister primarily due to the latter's global profile along with Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, in reality, more of a personality rather than an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests how his finance chief possessed a personal motives that involved advancing Varoufakis's books as well as experimenting with his own economic models on the nation instead of genuinely advocating its economic stability.
Tsipras noted how those discussions to avoid bankruptcy became “not just a method to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the validity of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, the country came dangerously on the brink of leaving the eurozone.
At stake lay both Greece's destiny and the harsh austerity policies required in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to find financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, an action which threw the EU into deeper existential crisis.
Although the referendum was carried resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how his former ally demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of history has provoked fury along with shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
