🔗 Share this article

In a freshly published personal account, called Ithaki, the former leader Alexis Tsipras does not hold back as he examines the turbulent era of Greece's financial crisis.

An Unconventional Appointment

As per the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis to be the finance minister primarily due to the latter's international reputation along with his highly compelling abilities when it came to speaker.

“In reality, he was, truthfully, more of a star rather than an economic expert,” wrote the 51-year-old.

Clashing Agendas

The former leader suggests that his finance chief had his own motives which included advancing Varoufakis's books and experimenting with his own theories on the nation instead of genuinely fighting for the country's financial survival.

Tsipras noted how the discussions to prevent insolvency were “not just a way of achieving improved terms for the country. They were a test, an historic chance to prove the truth of his economic theories.”

Critical Talks

During tense negotiations, Greece found itself dangerously close to exiting the eurozone.

On the line was not only Greece's future but also those punishing cutbacks required in exchange for bailout funds by foreign lenders.

Unsuccessful Options

Attempts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.

Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.

Public Vote and Reversal

That summer, those excoriating conditions were put to a popular referendum, a move which threw Europe into further crisis of identity.

Although the vote was won resoundingly by those who opposed austerity, the prime minister had little option to ignore the result then negotiate a bailout package from creditors that turned out to be more severe.

Final Straw

The ex-PM claimed how he began to doubt Varoufakis relatively soon.

“He was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”

After the minister outlined a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, the leader knew it was the end and asked Varoufakis: “Can you be serious?”

Enduring Criticism

Within the memoir, the author concludes that Varoufakis had proved himself “unsuitable for an agreement demanding complex and sensitive handling.”

He further wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, while helped hardliners that were pushing for Grexit.

This retelling of events has provoked fury and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.