🔗 Share this article

In a newly released autobiography, called Ithaki, the ex- premier Tsipras pulls no punches while he revisits the chaotic period of Greece's economic turmoil.

An Unconventional Choice

As per Tsipras's account, Tsipras chose the unorthodox economist Varoufakis as his treasury head primarily due to his worldwide fame and Varoufakis's very persuasive skills as a speaker.

“In reality, he was, actually, more of a star and less of an economic expert,” recalled the 51-year-old.

Clashing Agendas

The former leader claims how his finance chief possessed his own agenda which included promoting Varoufakis's publications and experimenting with his theories using Greece rather than genuinely fighting for the country's economic stability.

He explained how the discussions to stave off insolvency were “not only a method of achieving a better deal for the country. They became an experiment, an historic chance to prove the validity of Varoufakis's ideas.”

High-Stakes Talks

During volatile discussions, Greece found itself dangerously close to leaving the eurozone.

On the line was not only Greece's future and those harsh cutbacks required in return for rescue loans from international creditors.

Failed Options

Attempts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek bonds, were rejected.

Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.

Referendum and U-Turn

That summer, those excoriating bailout terms were subjected to a public vote, a move which plunged the EU into a deeper crisis of identity.

Even though the vote was carried resoundingly by voters against austerity, the prime minister had little option to reject its outcome then negotiate a rescue deal from creditors which turned out to be even harsher.

Final Straw

The ex-PM claimed how he started questioning Varoufakis quite early on.

“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”

After Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, the leader knew that it was the end and asked him: “Are you serious?”

Lasting Rebuke

In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”

He further claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating 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 conspicuous quiet on the matter.