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Within his freshly published personal account, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he reflects on that chaotic period during Greece's economic turmoil.

An Unconventional Choice

In the ex-PM's recollections, Tsipras selected that unorthodox economist Varoufakis to be his finance minister largely because of the latter's worldwide fame along with his highly compelling abilities as a public orator.

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

Conflicting Priorities

Tsipras suggests that Varoufakis possessed a personal motives that involved advancing Varoufakis's publications and testing out his own economic models on Greece rather than genuinely fighting for the country's economic stability.

Tsipras noted that the discussions to prevent bankruptcy became “not only a way of achieving a better deal for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's theories.”

Critical Talks

During volatile discussions, Greece found itself dangerously close to exiting the single currency area.

At stake was not only the country's future and those punishing austerity measures demanded in exchange for bailout funds from foreign lenders.

Unsuccessful Alternatives

Attempts to find funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.

Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.

Referendum Followed by Reversal

In July 2015, those punitive conditions were put to a popular referendum, an action that threw the EU into a further existential crisis.

Although the referendum was won resoundingly by voters against the cuts, the prime minister had little option but to reject its outcome and agree to a rescue deal with foreign lenders that proved to be even harsher.

Final Straw

The ex-PM claimed that he started questioning Varoufakis relatively soon.

“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”

When the minister proposed a contingency plan involving creating a secondary currency and distributing coupons to retirees, the leader knew that it was game over and asked him: “Is this for real?”

Lasting Rebuke

In the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”

He further claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and helped hawks who were advocating Grexit.

This account of events has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.