In a newly released autobiography, titled Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, Tsipras appointed that unorthodox academic Varoufakis as the finance minister mainly because of the latter's international reputation along with his highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras claims how Varoufakis possessed a personal agenda which included promoting Varoufakis's books and testing out his own game theories using the nation rather than truly advocating its economic stability.
Tsipras explained that the negotiations to stave off insolvency became “not only a method to secure a better deal for the country. They became an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
At stake was not only the country's future and those severe austerity measures demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were subjected to a public vote, an action that threw Europe into a further crisis of identity.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then agree to a bailout package from creditors which proved to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew publicity, who graced the covers of magazines globally … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, Tsipras knew it was the end and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes how his former ally had proved himself “unfit for a deal that required intricate and sensitive management.”
Tsipras also wrote that his confrontational style left him more and more alone among peers, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
The retelling of events has provoked fury and stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
