Within his newly released autobiography, named Ithaki, the ex- leader Tsipras does not hold back as he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, Tsipras chose the unorthodox academic Yanis Varoufakis as his treasury head mainly because of the latter's global profile along with his “extremely attractive” skills as a public orator.
“In reality, he was, actually, more like a personality rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief had his own motives that included promoting his publications as well as experimenting with his own economic models using the nation rather than genuinely advocating its economic stability.
Tsipras noted that those negotiations to avoid insolvency became “not only a method of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During tense negotiations, the country came perilously on the brink of leaving the single currency area.
On the line lay both Greece's destiny but also those punishing cutbacks required in exchange for bailout funds from international creditors.
Failed Options
Attempts to find funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those harsh conditions were subjected to a public vote, a move which plunged Europe into a deeper existential crisis.
Although the vote was carried resoundingly by those against austerity, the prime minister was forced to reject its outcome and agree to a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked anger and shock among certain groups, while the former minister has so far maintained a deafening silence on the matter.
