Within his freshly published personal account, titled Ithaki, the ex- premier Tsipras pulls no punches as he reflects on the turbulent era of Greece's debt drama.
A Controversial Choice
In the ex-PM's account, Tsipras selected the unorthodox economist Yanis Varoufakis as his treasury head primarily because of his global profile along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had a personal motives that included promoting Varoufakis's books and testing out his economic models using the nation instead of genuinely fighting for the country's financial survival.
He wrote how the discussions to prevent bankruptcy became “not just a method of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line was both Greece's future and the harsh austerity policies required in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move which plunged the EU into further existential crisis.
Even though the vote was carried decisively by those against austerity, the prime minister had little option to ignore the result and agree to a rescue deal from foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, Tsipras concludes how his former ally had proved himself “unfit for an agreement demanding complex and delicate management.”
He further claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and shock among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
