🔗 Share this article

Within his recently unveiled autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the turbulent era of Greece's economic turmoil.

A Controversial Appointment

As per the ex-PM's version, Tsipras chose that maverick academic Varoufakis to be the treasury head largely because of his international reputation and Varoufakis's very persuasive skills when it came to speaker.

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

Conflicting Priorities

Tsipras claims how Varoufakis had his own motives which involved advancing Varoufakis's publications as well as experimenting with his own game theories on the nation instead of truly fighting for the country's financial survival.

Tsipras wrote that those discussions to prevent insolvency became “not only a method to secure improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”

Critical Talks

Amid rollercoaster negotiations, Greece came perilously on the brink of leaving the eurozone.

On the line lay not only the country's future but also the punishing austerity measures required in return for rescue loans by international creditors.

Failed Options

Efforts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.

Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.

Public Vote Followed by U-Turn

In July 2015, those punitive conditions were put to a public vote, a move which threw Europe into further existential crisis.

Even though the vote was won decisively by those who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package from creditors that turned out to be tougher.

Breaking Point

Tsipras claimed that he started questioning Varoufakis quite early on.

“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”

When the minister proposed a backup strategy involving establishing a parallel currency and issuing coupons to retirees, Tsipras said he realised that it was game over and asked him: “Are you serious?”

Enduring Rebuke

Within the book, the author asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and delicate handling.”

He also claimed that his confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating Grexit.

The account of history has provoked anger along with shock among certain groups, while Varoufakis has so far kept a deafening silence on the matter.