🔗 Share this article

Within his recently unveiled personal account, named Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on the turbulent era of Greece's debt drama.

A Controversial Choice

According to Tsipras's recollections, he appointed the unorthodox economist Yanis Varoufakis to be his treasury head primarily due to the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to public orator.

“He was, in reality, more like a personality and less of an economic expert,” stated the 51-year-old.

Conflicting Agendas

Tsipras alleges that his finance chief possessed his own agenda which included advancing his publications and testing out his own game theories using the nation rather than truly fighting for its economic stability.

He wrote that those talks to prevent insolvency were “not just a way to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his ideas.”

Critical Talks

During rollercoaster discussions, the country found itself perilously on the brink of exiting the eurozone.

On the line lay not only Greece's future but also the severe cutbacks required in return for financial aid by foreign lenders.

Unsuccessful Alternatives

Attempts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.

Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.

Referendum Followed by Reversal

In July 2015, those harsh conditions were put to a public vote, an action which plunged Europe into a deeper crisis of identity.

Although the vote was carried decisively by voters against austerity, the prime minister was forced to reject its outcome then agree to a rescue deal from creditors which proved to be even harsher.

Breaking Point

Tsipras revealed how he started questioning Varoufakis quite early on.

“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”

When Varoufakis outlined a backup strategy that included establishing a parallel currency and distributing vouchers to retirees, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”

Lasting Rebuke

In the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”

Tsipras also wrote that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating Grexit.

The retelling of events has been met with anger and shock among certain groups, whereas the former minister has so far kept a deafening silence on the matter.