🔗 Share this article

Within his freshly published autobiography, called Ithaki, the former leader Tsipras does not hold back as he examines the turbulent period during Greece's economic turmoil.

A Controversial Choice

According to the ex-PM's account, he appointed the unorthodox economist Varoufakis as his finance minister primarily because of his international reputation and his highly compelling skills when it came to speaker.

“He was, truthfully, more like a star and less of an economic expert,” stated the 51-year-old.

Conflicting Priorities

Tsipras suggests that Varoufakis possessed his own motives which involved advancing his publications and testing out his theories using Greece rather than truly fighting for its economic stability.

Tsipras explained how the discussions to avoid insolvency were “not only a method to secure a better deal for the country. They became a test, a monumental chance to prove the truth of Varoufakis's economic theories.”

Critical Negotiations

During tense negotiations, the country came dangerously close to leaving the eurozone.

At stake was not only Greece's future but also the punishing austerity policies demanded in exchange for financial aid from international creditors.

Unsuccessful Options

Attempts to secure financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.

Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.

Public Vote Followed by U-Turn

That summer, the excoriating conditions were subjected to a popular referendum, a move which plunged the EU into a deeper existential crisis.

Even though the vote was won decisively by voters who opposed austerity, Tsipras had little option to ignore the result then negotiate a rescue deal with creditors which proved to be tougher.

Final Straw

Tsipras revealed that he started questioning Varoufakis quite early on.

“He was the public image of negotiation, the man who drew publicity, who graced the front pages of publications globally … it seemed he relished the spotlight.”

When the minister outlined a backup strategy that included creating a parallel currency and issuing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Is this for real?”

Enduring Rebuke

Within the memoir, the author asserts how Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate management.”

Tsipras also claimed how his confrontational style made him more and more alone with colleagues, endangered the country, while assisted hawks who were advocating Grexit.

The retelling of events has provoked fury and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.