In a newly released autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he examines that turbulent period of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, Tsipras selected that unorthodox academic Varoufakis to be the finance minister primarily because of his worldwide fame along with Varoufakis's very persuasive skills when it came to speaker.
“He was, truthfully, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras claims that his finance chief possessed a personal motives that involved advancing his publications as well as experimenting with his own theories on Greece instead of truly advocating the country's economic stability.
He explained that the discussions to prevent bankruptcy were “not just a way to secure a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid volatile discussions, the country found itself perilously close to exiting the single currency area.
On the line was both Greece's future but also those severe cutbacks required in return for bailout funds from international creditors.
Failed Options
Attempts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, an action that threw Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters against austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a parallel currency and issuing coupons to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate handling.”
Tsipras also wrote that his confrontational approach left him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This account of history has provoked fury along with shock in some quarters, while the former minister has kept a conspicuous quiet on the matter.
