In a recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he reflects on the turbulent era of Greece's debt drama.
A Controversial Choice
According to Tsipras's account, he selected that maverick academic Varoufakis as the treasury head primarily due to his worldwide fame and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a star rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests that his finance chief possessed a personal motives that included promoting Varoufakis's books and experimenting with his own economic models on Greece rather than genuinely fighting for the country's financial survival.
He explained that those talks to prevent insolvency became “not just a way to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid volatile discussions, Greece came perilously close to leaving the eurozone.
At stake was not only Greece's destiny and those harsh cutbacks required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, the harsh conditions were subjected to a public vote, a move which threw Europe into deeper crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package with creditors that turned out to be more severe.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with shock among certain groups, whereas the former minister has maintained a deafening silence on the matter.
