🔗 Share this article

Within his newly released autobiography, titled Ithaki, the ex- leader Alexis Tsipras does not hold back while he revisits that turbulent period of Greece's economic turmoil.

An Unconventional Appointment

As per the ex-PM's account, Tsipras selected that maverick economist Varoufakis to be his finance minister largely because of his international reputation and Varoufakis's highly compelling abilities as a speaker.

“He was, in reality, more of a star and less of an economist,” stated Tsipras.

Clashing Agendas

The former leader claims that Varoufakis had his own motives which involved advancing Varoufakis's books and testing out his own game theories on the nation instead of truly advocating the country's economic stability.

Tsipras explained that the talks to avoid insolvency were “not just a way to secure improved terms for Greece. They became an experiment, a monumental chance to prove the validity of his ideas.”

Critical Negotiations

Amid tense negotiations, Greece came dangerously on the brink of leaving the single currency area.

On the line lay not only the country's destiny but also the punishing cutbacks demanded in return for rescue loans by foreign lenders.

Failed Alternatives

Efforts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.

Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.

Public Vote Followed by Reversal

In July 2015, the harsh conditions were subjected to a popular referendum, an action which threw the EU into a further existential crisis.

Although the vote was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package from foreign lenders which proved to be tougher.

Breaking Point

The ex-PM claimed that he started questioning Varoufakis relatively soon.

“He was the face of negotiation, the man who drew publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”

After Varoufakis proposed a backup strategy that included creating a secondary currency and distributing coupons to pensioners, the leader said he realised it was game over questioning him: “Can you be serious?”

Lasting Criticism

Within the book, the author asserts that his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”

He further claimed that Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.

This retelling of events has been met with anger along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.