Within his newly released autobiography, titled Ithaki, the former leader Alexis Tsipras does not hold back as he revisits the chaotic era of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he selected the maverick academic Varoufakis as the treasury head mainly because of his global profile along with his very persuasive abilities as a communicator.
“He was, truthfully, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis had a personal motives that included advancing his books and testing out his own game theories using the nation instead of genuinely fighting for its financial survival.
Tsipras noted that those discussions to avoid bankruptcy became “not just a way of achieving improved terms for the country. They were an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, Greece came perilously on the brink of leaving the single currency area.
At stake was both the country's future and those punishing cutbacks demanded in return for financial aid by international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
That summer, those harsh conditions were put to a popular referendum, a move that threw Europe into a deeper existential crisis.
Although the referendum was won decisively by those who opposed austerity, Tsipras had little option to ignore the result then negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy that included creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, the author concludes how his former ally had proved himself “unsuitable for an agreement that required complex and delicate management.”
Tsipras further claimed how his aggressive style left him increasingly isolated among peers, put Greece at risk, and assisted hawks that were pushing for Grexit.
This retelling of events has been met with fury along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
