🔗 Share this article

Within his recently unveiled autobiography, named Ithaki, the former premier Tsipras does not hold back as he revisits the turbulent era of Greece's debt drama.

An Unconventional Appointment

According to the ex-PM's version, Tsipras chose that maverick economist Yanis Varoufakis as his treasury head primarily due to his international reputation along with his “extremely attractive” skills as a public orator.

“In reality, he was, actually, more like a personality and less of an economic expert,” recalled Tsipras.

Clashing Agendas

The former leader claims that his finance chief possessed a personal agenda which included advancing his publications as well as experimenting with his own economic models on Greece rather than truly advocating its financial survival.

He explained that the discussions to stave off insolvency became “not just a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's ideas.”

Critical Talks

During tense negotiations, Greece came dangerously on the brink of leaving the eurozone.

On the line lay not only Greece's destiny and those harsh cutbacks demanded in return for financial aid by foreign lenders.

Failed Options

Efforts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.

Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.

Public Vote and Reversal

In July 2015, those punitive bailout terms were put to a public vote, a move that threw the EU into further crisis of identity.

Although the referendum was carried decisively by voters against the cuts, Tsipras had little option to reject its outcome and agree to a rescue deal from creditors which proved to be more severe.

Breaking Point

Tsipras claimed how he started questioning his finance minister quite early on.

“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”

After Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised that it was game over questioning him: “Can you be serious?”

Enduring Rebuke

In the memoir, the author asserts how Varoufakis demonstrated himself “unfit for a deal that required complex and delicate handling.”

He also claimed that his confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were advocating Grexit.

The retelling of history has been met with fury along with shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.