🔗 Share this article

In a freshly published personal account, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the turbulent era during Greece's debt drama.

A Controversial Appointment

In Tsipras's account, Tsipras selected that unorthodox academic Varoufakis as the finance minister largely 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,” stated Tsipras.

Conflicting Priorities

Tsipras claims how his finance chief possessed a personal motives that involved advancing his publications as well as testing out his economic models on the nation instead of genuinely fighting for its financial survival.

He explained how those talks to stave off insolvency were “not only a way of achieving a better deal for Greece. They became a test, an historic chance to prove the validity of his theories.”

Critical Talks

Amid rollercoaster negotiations, the country came perilously close to exiting the eurozone.

On the line was both Greece's future but also those severe cutbacks required in exchange for bailout funds by international creditors.

Unsuccessful Options

Attempts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.

Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.

Public Vote and U-Turn

In July 2015, those punitive bailout terms were subjected to a popular referendum, a move which threw the EU into deeper existential crisis.

Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option to ignore the result and negotiate a rescue deal from foreign lenders which proved to be more severe.

Final Straw

The ex-PM revealed that he began to doubt Varoufakis quite early on.

“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”

After the minister outlined a backup strategy that included creating a parallel currency and issuing coupons to pensioners, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”

Enduring Rebuke

Within the book, the author concludes how Varoufakis had proved himself “unfit for a deal that required complex and delicate management.”

He also claimed that his confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for Grexit.

This account of events has been met with anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.