Within his recently unveiled personal account, titled Ithaki, the former premier Tsipras spares no criticism while he reflects on that turbulent era of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's account, Tsipras selected the unorthodox economist Yanis Varoufakis as his finance minister largely because of his international reputation and his very persuasive skills when it came to speaker.
“He was, actually, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests that his finance chief possessed his own agenda which included promoting his books and testing out his own economic models using Greece instead of genuinely fighting for its economic stability.
Tsipras explained how the discussions to prevent insolvency were “not just a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake lay both Greece's future but also the severe cutbacks required in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action that plunged the EU into deeper existential crisis.
Although the vote was carried resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal from creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over and asked him: “Are you serious?”
Enduring Rebuke
In the book, the author concludes that his former ally had proved himself “unfit for a deal that required intricate and delicate handling.”
Tsipras also wrote that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
