🔗 Share this article

Within his freshly published memoir, called Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on the turbulent period during Greece's financial crisis.

An Unconventional Choice

According to Tsipras's recollections, Tsipras appointed the unorthodox academic Varoufakis to be the treasury head primarily because of his worldwide fame and his “extremely attractive” abilities when it came to public orator.

“He was, actually, more of a celebrity and less of an economist,” recalled Tsipras.

Conflicting Agendas

Tsipras claims how Varoufakis had his own motives which included advancing Varoufakis's books as well as testing out his theories using the nation rather than truly advocating the country's economic stability.

Tsipras noted how those negotiations to prevent insolvency became “not only a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to prove the truth of his ideas.”

High-Stakes Talks

Amid volatile negotiations, the country found itself perilously close to leaving the single currency area.

At stake lay both the country's destiny but also the punishing cutbacks demanded in return for financial aid by foreign lenders.

Failed Options

Efforts to secure financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, were rejected.

Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.

Public Vote and U-Turn

In July 2015, those punitive conditions were subjected to a public vote, an action that plunged Europe into a further existential crisis.

Although the vote was won decisively by those against austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package from creditors that proved to be even harsher.

Final Straw

The ex-PM claimed how he began to doubt his finance minister quite early on.

“He was the public image of the talks, the man who drew publicity, who graced the front pages of magazines globally … it seemed he relished his new role.”

After Varoufakis proposed a backup strategy that included creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”

Enduring Rebuke

Within the book, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”

Tsipras also claimed that his confrontational style made him increasingly isolated among peers, endangered the country, and helped hawks who were pushing for Grexit.

This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.