Within his freshly published memoir, named Ithaki, the former premier Alexis Tsipras does not hold back as he examines the chaotic era of Greece's debt drama.
An Unconventional Choice
According to Tsipras's version, he selected that unorthodox academic Varoufakis to be his treasury head mainly due to the latter's worldwide fame and Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, in reality, more like a personality rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis had his own motives which included promoting his books as well as testing out his own theories using Greece rather than truly fighting for the country's financial survival.
Tsipras explained that those discussions to avoid insolvency became “not only a method to secure improved terms for the country. They were an experiment, a monumental chance to prove the truth of his economic theories.”
Critical Negotiations
During volatile discussions, the country came perilously on the brink of exiting the eurozone.
At stake was not only Greece's future but also the severe austerity policies required in exchange for financial aid from foreign lenders.
Failed Options
Efforts to secure funds from other sources, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those excoriating conditions were put to a popular referendum, a move which threw Europe into a further crisis of identity.
Even though the vote was carried decisively by those against austerity, the prime minister had little option to ignore the result and negotiate a bailout package with foreign lenders which turned out to be tougher.
Final Straw
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 covers of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency and distributing coupons to pensioners, the leader knew that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the book, the author concludes how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate management.”
He also wrote how Varoufakis's confrontational approach left him more and more alone among peers, endangered the country, while helped hawks who were pushing for Grexit.
This retelling of history has been met with fury along with shock among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
