🔗 Share this article

Within his newly released autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on that chaotic period during Greece's financial crisis.

A Controversial Choice

In Tsipras's recollections, Tsipras chose the maverick academic Varoufakis as his treasury head primarily due to his worldwide fame along with his highly compelling skills as a public orator.

“In reality, he was, in reality, more of a personality and less of an economic expert,” stated Tsipras.

Conflicting Priorities

Tsipras claims that Varoufakis possessed his own motives that involved advancing Varoufakis's publications as well as testing out his own theories on the nation instead of truly fighting for its financial survival.

Tsipras noted that those discussions to stave off insolvency became “not only a method to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of his ideas.”

Critical Talks

During volatile discussions, Greece came perilously close to exiting the eurozone.

On the line was not only the country's future but also those punishing austerity policies required in return for financial aid by foreign lenders.

Unsuccessful Options

Attempts to secure financing elsewhere, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.

Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.

Public Vote and U-Turn

That summer, those punitive conditions were put to a public vote, an action that plunged Europe into a deeper existential crisis.

Even though the vote was carried decisively by voters who opposed austerity, Tsipras was forced to reject its outcome and negotiate a bailout package with foreign lenders that proved to be more severe.

Final Straw

The ex-PM claimed that he began to doubt his finance minister relatively soon.

“He was the public image of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”

After the minister outlined a backup strategy involving creating a secondary currency and distributing coupons to pensioners, the leader said he realised that it was game over questioning him: “Are you serious?”

Enduring Criticism

Within the memoir, Tsipras asserts that his former ally demonstrated himself to be “unfit for a deal demanding intricate and sensitive management.”

He also claimed how his aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.

This retelling of events has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.