In a newly released autobiography, titled Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras selected that maverick academic Varoufakis to be his finance minister mainly because of the latter's international reputation along with his highly compelling skills as a speaker.
“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own motives which involved promoting his books and testing out his own economic models using the nation instead of genuinely advocating its economic stability.
Tsipras noted how those discussions to avoid bankruptcy were “not just a way of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
Amid volatile discussions, the country came dangerously close to exiting the eurozone.
On the line was not only Greece's future and the punishing austerity policies demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action which threw Europe into a deeper crisis of identity.
Although the referendum was won decisively by those against the cuts, Tsipras had little option to ignore the result and agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency as well as distributing vouchers to retirees, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He also wrote that his aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
