🔗 Share this article

In a freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the turbulent era during Greece's economic turmoil.

An Unconventional Choice

As per the ex-PM's version, he selected that maverick economist Yanis Varoufakis as his finance minister largely because of his global profile and Varoufakis's “extremely attractive” abilities as a communicator.

“He was, in reality, more like a personality and less of an economic expert,” stated Tsipras.

Conflicting Priorities

Tsipras suggests that Varoufakis had his own motives that included promoting his publications as well as testing out his own game theories on the nation instead of truly advocating its financial survival.

He wrote how the negotiations to prevent insolvency were “not only a way to secure a better deal for Greece. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”

High-Stakes Talks

Amid rollercoaster discussions, the country found itself dangerously close to leaving the single currency area.

At stake lay both the country's destiny and the harsh austerity policies demanded in exchange for rescue loans from international creditors.

Unsuccessful Alternatives

Efforts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.

Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.

Referendum Followed by Reversal

In July 2015, the punitive bailout terms were subjected to a popular referendum, a move that plunged the EU into further crisis of identity.

Although the referendum was won resoundingly by those who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal from foreign lenders which turned out to be even harsher.

Breaking Point

The ex-PM claimed that he started questioning Varoufakis quite early on.

“Varoufakis was the public image of the talks, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”

When Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, the leader knew it was game over questioning him: “Are you serious?”

Enduring Rebuke

Within the book, the author concludes how Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive management.”

Tsipras further wrote that his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks who were advocating Grexit.

The retelling of history has been met with fury and shock among certain groups, while Varoufakis has maintained a deafening silence on the matter.