In a recently unveiled autobiography, named Ithaki, the ex- premier Tsipras pulls no punches as he revisits that turbulent era during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis to be his finance minister primarily because of the latter's global profile along with his “extremely attractive” skills when it came to speaker.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief had a personal motives that included advancing Varoufakis's books and experimenting with his game theories on Greece instead of genuinely fighting for its financial survival.
He wrote that the talks to stave off bankruptcy were “not only a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself perilously on the brink of leaving the eurozone.
At stake lay both Greece's destiny but also the punishing austerity policies demanded in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, an action that plunged Europe into a further crisis of identity.
Even though the vote was carried resoundingly by those against austerity, Tsipras had little option but to ignore the result then agree to a bailout package from foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy involving establishing a parallel currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unfit for a deal that required complex and sensitive handling.”
Tsipras also wrote that his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
The account of events has provoked anger and shock among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
