Within his freshly published autobiography, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits the chaotic era during Greece's debt drama.
An Unconventional Choice
In Tsipras's account, he chose that unorthodox academic Varoufakis to be the finance minister mainly due to the latter's international reputation and his highly compelling skills as a public orator.
“In reality, he was, in reality, more of a personality rather than an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis had his own agenda that involved advancing Varoufakis's publications and testing out his own theories using Greece instead of genuinely advocating its financial survival.
Tsipras explained that those discussions to avoid bankruptcy were “not only a way of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Negotiations
During volatile negotiations, Greece came dangerously on the brink of exiting the single currency area.
On the line was not only Greece's future and the punishing cutbacks demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, an action that plunged Europe into deeper existential crisis.
Even though the referendum was won decisively by those against the cuts, the prime minister had little option to ignore the result and agree to a bailout package from foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes that his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This account of history has been met with fury along with shock among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
