🔗 Share this article

In a freshly published memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on that chaotic era of Greece's economic turmoil.

A Controversial Appointment

According to Tsipras's recollections, Tsipras chose that unorthodox academic Yanis Varoufakis to be his finance minister primarily due to the latter's global profile along with his very persuasive abilities when it came to communicator.

“He was, actually, more like a personality rather than an economic expert,” stated Tsipras.

Clashing Priorities

Tsipras claims how his finance chief had his own motives which involved promoting Varoufakis's books as well as testing out his game theories on Greece rather than genuinely advocating its economic stability.

He noted that those discussions to avoid bankruptcy became “not only a method to secure a better deal for the country. They became a test, a monumental opportunity to prove the validity of his economic theories.”

Critical Talks

During rollercoaster discussions, Greece found itself dangerously on the brink of exiting the eurozone.

At stake lay both the country's destiny but also those severe austerity measures demanded in return for rescue loans from international creditors.

Unsuccessful Alternatives

Attempts to find funds elsewhere, such as an urgent plea to Russia to buy Greek government bonds, were rejected.

Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.

Referendum Followed by U-Turn

That summer, the punitive conditions were put to a popular referendum, an action which threw the EU into a deeper crisis of identity.

Although the vote was carried decisively by those who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a bailout package from foreign lenders which turned out to be even harsher.

Final Straw

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

“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”

When the minister proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Can you be serious?”

Enduring Criticism

In the book, the author asserts that Varoufakis demonstrated himself “unfit for a deal demanding intricate and delicate management.”

Tsipras further wrote how his confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.

The retelling of history has provoked fury along with shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.