In a freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras pulls no punches as he examines the turbulent era during Greece's debt drama.
An Unconventional Choice
According to Tsipras's recollections, he selected the maverick academic Varoufakis as his finance minister mainly due to his global profile along with Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras claims how Varoufakis had a personal motives that involved advancing his publications as well as experimenting with his own theories using Greece instead of truly advocating the country's economic stability.
He noted that the negotiations to stave off insolvency were “not only a method of achieving improved terms for Greece. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, Greece came perilously on the brink of exiting the eurozone.
On the line was both Greece's destiny and those harsh austerity policies required in exchange for rescue loans from foreign lenders.
Failed Options
Efforts to secure funds from other sources, including an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those harsh conditions were put to a public vote, an action that plunged the EU into deeper existential crisis.
Even though the vote was won resoundingly by those who opposed austerity, the prime minister was forced to ignore the result and negotiate a bailout package from foreign lenders which proved to be even harsher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
This account of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
