🔗 Share this article

Within his newly released autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on the chaotic period during Greece's financial crisis.

An Unconventional Choice

According to the ex-PM's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis as his treasury head mainly due to the latter's international reputation along with Varoufakis's very persuasive skills as a communicator.

“In reality, he was, actually, more of a personality and less of an economic expert,” stated the 51-year-old.

Clashing Agendas

The former leader claims how his finance chief possessed a personal motives that included promoting Varoufakis's publications and experimenting with his own economic models on Greece instead of truly advocating its economic stability.

He noted how those negotiations to prevent bankruptcy became “not just a method of achieving improved terms for the country. They became a test, a monumental chance to prove the truth of Varoufakis's ideas.”

High-Stakes Talks

During rollercoaster discussions, Greece came dangerously close to exiting the eurozone.

At stake lay both Greece's destiny and the harsh cutbacks demanded in return for rescue loans by international creditors.

Unsuccessful Options

Attempts to find financing from other sources, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.

Assisting the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.

Public Vote and Reversal

In July 2015, the harsh conditions were subjected to a public vote, an action which threw the EU into deeper crisis of identity.

Although the referendum was won resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome then agree to a bailout package with creditors which proved to be even harsher.

Final Straw

The ex-PM revealed that he began to doubt Varoufakis relatively soon.

“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he relished his new role.”

When Varoufakis proposed a contingency plan involving establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”

Enduring Rebuke

Within the memoir, the author concludes that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”

Tsipras further claimed how Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.

This retelling of history has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence on the matter.