🔗 Share this article

Within his newly released personal account, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits the turbulent era during Greece's financial crisis.

An Unconventional Appointment

As per the ex-PM's account, he chose that unorthodox academic Varoufakis as his finance minister mainly due to his worldwide fame along with Varoufakis's highly compelling skills as a speaker.

“In reality, he was, truthfully, more like a star rather than an economic expert,” wrote Tsipras.

Conflicting Agendas

The former leader claims how his finance chief had his own agenda that included advancing Varoufakis's books and experimenting with his own game theories using Greece instead of truly fighting for its economic stability.

He wrote how the negotiations to prevent insolvency became “not just a way of achieving improved terms for the country. They were a test, a monumental chance to prove the validity of his ideas.”

High-Stakes Talks

Amid volatile discussions, the country came dangerously on the brink of leaving the single currency area.

At stake lay not only Greece's destiny but also those harsh austerity measures required in return for rescue loans from foreign lenders.

Failed Options

Attempts to secure financing from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.

Assisting Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.

Referendum Followed by Reversal

In July 2015, the harsh bailout terms were subjected to a public vote, an action that plunged Europe into deeper crisis of identity.

Although the referendum was carried decisively by those against the cuts, the prime minister had little option but to reject its outcome then agree to a bailout package from creditors that turned out to be tougher.

Breaking Point

The ex-PM revealed that he started questioning his finance minister quite early on.

“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the front pages of magazines globally … it seemed he relished his new role.”

When the minister outlined a contingency plan involving creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was game over questioning him: “Are you serious?”

Enduring Rebuke

In the memoir, the author asserts how his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate management.”

He also claimed how his confrontational style made him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.

This retelling of history has provoked anger and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.