🔗 Share this article

In a recently unveiled personal account, called Ithaki, the ex- premier Alexis Tsipras spares no criticism as he revisits the turbulent period during Greece's debt drama.

A Controversial Choice

In Tsipras's version, he chose the unorthodox academic Yanis Varoufakis to be the treasury head mainly because of his international reputation along with Varoufakis's very persuasive skills when it came to communicator.

“In reality, he was, actually, more like a celebrity and less of an economist,” stated the 51-year-old.

Conflicting Agendas

Tsipras suggests how Varoufakis possessed his own agenda which involved promoting Varoufakis's publications and testing out his own economic models on Greece rather than truly fighting for its financial survival.

Tsipras noted how the discussions to prevent insolvency were “not just a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”

High-Stakes Talks

Amid volatile negotiations, Greece found itself dangerously close to leaving the eurozone.

On the line lay not only the country's destiny and the punishing austerity policies required in exchange for financial aid by foreign lenders.

Unsuccessful Alternatives

Attempts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.

Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.

Public Vote Followed by Reversal

In July 2015, those harsh conditions were subjected to a public vote, an action which plunged Europe into a further crisis of identity.

Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal with creditors that turned out to be even harsher.

Final Straw

Tsipras revealed that he started questioning his finance minister quite early on.

“Varoufakis was the face of the talks, the figure who drew publicity, who graced the covers of publications globally … he gave the impression he relished his new role.”

When Varoufakis proposed a contingency plan that included creating a secondary currency and issuing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”

Lasting Criticism

Within the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”

Tsipras further claimed that his aggressive style made him increasingly isolated among peers, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.

The account of history has provoked anger and shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.