In a freshly published autobiography, titled Ithaki, the former prime minister Tsipras pulls no punches while he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's account, Tsipras selected the unorthodox academic Yanis Varoufakis to be his finance minister primarily due to the latter's international reputation and his highly compelling abilities when it came to communicator.
“He was, actually, more like a personality and less of an economist,” recalled Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis had a personal agenda which involved advancing Varoufakis's books and experimenting with his game theories on Greece rather than truly advocating the country's economic stability.
He explained that those discussions to stave off insolvency were “not just a method of achieving a better deal for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During tense negotiations, the country came perilously on the brink of leaving the eurozone.
At stake was not only the country's destiny and the punishing cutbacks required in return for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action that plunged Europe into a further crisis of identity.
Even though the referendum was carried decisively by those against austerity, the prime minister was forced to ignore the result then negotiate a rescue deal with creditors which proved to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan that included establishing a secondary currency and distributing vouchers to retirees, the leader said he realised it was game over and asked him: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive management.”
He also wrote how his aggressive style left him increasingly isolated with colleagues, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
