🔗 Share this article

In a recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras does not hold back while he revisits that chaotic era of Greece's economic turmoil.

A Controversial Choice

In Tsipras's recollections, he appointed that maverick academic Varoufakis as his treasury head largely because of his international reputation and his very persuasive skills when it came to public orator.

“He was, truthfully, more of a personality and less of an economist,” recalled the 51-year-old.

Clashing Priorities

The former leader claims that Varoufakis possessed a personal motives which involved advancing Varoufakis's books and testing out his own game theories using the nation rather than truly fighting for its economic stability.

He explained that the talks to prevent bankruptcy were “not just a method to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”

Critical Talks

Amid volatile negotiations, Greece came dangerously close to exiting the single currency area.

On the line lay not only the country's future and the harsh austerity measures demanded in return for bailout funds by international creditors.

Failed Options

Attempts to find funds from other sources, including an urgent plea to Russia to buy Greek government bonds, went unanswered.

Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.

Public Vote Followed by Reversal

That summer, those excoriating conditions were subjected to a popular referendum, an action which threw Europe into a further existential crisis.

Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal from foreign lenders which turned out to be tougher.

Final Straw

Tsipras claimed how he began to doubt his finance minister quite early on.

“He was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”

When Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was the end and asked him: “Are you serious?”

Enduring Criticism

In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”

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

The retelling of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.