🔗 Share this article

Within his recently unveiled memoir, called Ithaki, the former premier Tsipras spares no criticism while he examines the chaotic era during Greece's debt drama.

An Unconventional Appointment

In the ex-PM's recollections, he chose that maverick academic Yanis Varoufakis to be the finance minister primarily because of the latter's international reputation and his very persuasive skills when it came to speaker.

“He was, actually, more of a personality and less of an economic expert,” stated Tsipras.

Clashing Agendas

The former leader claims how his finance chief possessed his own motives that involved promoting Varoufakis's books and experimenting with his own theories on Greece instead of truly fighting for its economic stability.

He wrote that those discussions to stave off bankruptcy became “not only a way of achieving a better deal for the country. They were a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”

High-Stakes Negotiations

During tense discussions, the country came perilously on the brink of exiting the single currency area.

On the line was not only Greece's destiny but also the harsh austerity measures required in return for rescue loans from foreign lenders.

Unsuccessful Alternatives

Efforts to find financing elsewhere, including an urgent plea to Russia to purchase Greek bonds, were rejected.

Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.

Referendum and Reversal

In July 2015, those excoriating bailout terms were put to a popular referendum, an action which threw Europe into deeper existential crisis.

Even though the vote was won resoundingly by those who opposed the cuts, Tsipras was forced to ignore the result then negotiate a bailout package from creditors that turned out to be even harsher.

Final Straw

The ex-PM claimed how he started questioning his finance minister quite early on.

“He was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished his new role.”

After Varoufakis proposed a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Is this for real?”

Enduring Rebuke

Within the book, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate management.”

Tsipras further claimed how his confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.

This retelling of events has been met with anger and shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.