🔗 Share this article

Within his newly released personal account, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he examines that turbulent era of Greece's economic turmoil.

An Unconventional Appointment

As per Tsipras's account, he selected that unorthodox academic Varoufakis as his treasury head mainly due to his international reputation and his “extremely attractive” skills when it came to speaker.

“In reality, he was, in reality, more like a star rather than an economist,” recalled Tsipras.

Clashing Agendas

The former leader alleges that Varoufakis possessed his own agenda that included promoting his publications as well as experimenting with his own game theories using the nation rather than genuinely advocating its financial survival.

Tsipras wrote how those talks to stave off bankruptcy became “not only a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the validity of his economic theories.”

Critical Negotiations

During volatile discussions, the country came dangerously on the brink of leaving the single currency area.

At stake was not only the country's future but also those punishing austerity measures demanded in return for financial aid from foreign lenders.

Unsuccessful Alternatives

Attempts to find financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, went unanswered.

Assisting Greece was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.

Referendum Followed by U-Turn

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

Even though the vote was won decisively by those against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be more severe.

Final Straw

Tsipras claimed that he began to doubt Varoufakis quite early on.

“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”

When the minister proposed a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”

Enduring Rebuke

In the book, the author asserts how Varoufakis had proved himself to be “unfit for a deal demanding complex and delicate handling.”

He further wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who 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.