🔗 Share this article

Within his recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he revisits the chaotic era during Greece's debt drama.

A Controversial Appointment

As per the ex-PM's version, Tsipras appointed the maverick economist Varoufakis as his finance minister largely due to the latter's international reputation and his “extremely attractive” skills when it came to communicator.

“He was, truthfully, more of a star rather than an economist,” wrote Tsipras.

Clashing Agendas

The former leader alleges that Varoufakis possessed a personal agenda that involved promoting his publications and experimenting with his own theories using the nation instead of genuinely advocating the country's financial survival.

He noted that those talks to prevent bankruptcy were “not just a way of achieving improved terms for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”

Critical Negotiations

During volatile negotiations, the country came perilously on the brink of exiting the eurozone.

At stake was not only the country's future but also the harsh cutbacks demanded in return for bailout funds by international creditors.

Failed Options

Efforts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek government bonds, were rejected.

Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.

Public Vote and Reversal

That summer, those excoriating conditions were subjected to a public vote, a move that threw Europe into a deeper existential crisis.

Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result then negotiate a bailout package with foreign lenders which turned out to be tougher.

Breaking Point

Tsipras revealed that he began to doubt his finance minister quite early on.

“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”

When Varoufakis outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”

Lasting Criticism

Within the memoir, Tsipras concludes how his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”

He also claimed how his confrontational approach left him more and more alone with colleagues, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.

The account of history has been met with fury and shock among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.