🔗 Share this article

Within his freshly published personal account, called Ithaki, the ex- prime minister Tsipras does not hold back as he examines the chaotic era during Greece's financial crisis.

A Controversial Choice

As per the ex-PM's recollections, Tsipras selected the maverick academic Varoufakis as the treasury head primarily because of his worldwide fame and his highly compelling abilities as a communicator.

“He was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.

Conflicting Priorities

The former leader claims how Varoufakis had his own motives which involved advancing Varoufakis's books and experimenting with his game theories using Greece rather than truly fighting for its financial survival.

Tsipras explained that the negotiations to avoid bankruptcy were “not only a method of achieving a better deal for the country. They were an experiment, an historic chance to prove the validity of his ideas.”

High-Stakes Talks

Amid rollercoaster discussions, the country came perilously on the brink of leaving the single currency area.

At stake lay not only the country's destiny but also those punishing austerity policies required in exchange for financial aid from foreign lenders.

Unsuccessful Alternatives

Efforts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.

Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.

Referendum Followed by Reversal

In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action which plunged the EU into further crisis of identity.

Although the referendum was carried decisively by voters who opposed austerity, the prime minister had little option to ignore the result then negotiate a bailout package from creditors that proved to be more severe.

Final Straw

Tsipras claimed that he started questioning Varoufakis relatively soon.

“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”

After Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Can you be serious?”

Lasting Rebuke

Within the memoir, the author concludes that his former ally had proved himself to be “unfit for an agreement demanding complex and delicate handling.”

Tsipras also wrote how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.

This account of events has provoked fury along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.