🔗 Share this article

Within his freshly published personal account, called Ithaki, the ex- leader Tsipras spares no criticism while he reflects on the chaotic period during Greece's debt drama.

A Controversial Choice

In Tsipras's account, he appointed that unorthodox economist Yanis Varoufakis to be the finance minister largely because of the latter's worldwide fame and Varoufakis's highly compelling abilities as a communicator.

“In reality, he was, truthfully, more of a star rather than an economist,” wrote Tsipras.

Conflicting Agendas

Tsipras suggests that Varoufakis had a personal agenda which included promoting Varoufakis's publications as well as testing out his own economic models using Greece rather than truly fighting for the country's economic stability.

Tsipras explained that the talks to avoid insolvency became “not only a way to secure a better deal for the country. They were a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”

High-Stakes Talks

Amid tense negotiations, the country came dangerously on the brink of leaving the eurozone.

On the line was not only the country's future but also those punishing austerity measures required in return for bailout funds from international creditors.

Unsuccessful Alternatives

Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.

Helping Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.

Public Vote Followed by Reversal

In July 2015, those punitive bailout terms were subjected to a popular referendum, an action that threw the EU into a further crisis of identity.

Although the vote was won decisively by voters against austerity, Tsipras had little option to ignore the result then agree to a rescue deal with creditors that turned out to be even harsher.

Final Straw

Tsipras revealed how he began to doubt Varoufakis quite early on.

“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”

After the minister outlined a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Is this for real?”

Lasting Criticism

Within the book, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”

He further claimed how Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.

This account of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.