Within his newly released memoir, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines the chaotic era of Greece's debt drama.
A Controversial Choice
According to Tsipras's version, Tsipras chose that maverick academic Varoufakis as his treasury head largely because of the latter's international reputation along with his very persuasive abilities as a public orator.
“He was, in reality, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief possessed his own motives which included promoting Varoufakis's publications and testing out his own game theories using the nation instead of truly fighting for the country's financial survival.
Tsipras explained that the negotiations to stave off insolvency became “not only a way to secure a better deal for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid tense discussions, the country came dangerously on the brink of leaving the single currency area.
At stake was not only the country's future and those severe austerity measures demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating conditions were put to a public vote, an action that plunged the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras was forced to ignore the result and agree to a bailout package with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency and issuing coupons to pensioners, Tsipras knew that it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the book, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
He further claimed how Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked anger and stunned disbelief among certain groups, while the former minister has kept a deafening silence regarding these claims.
