In a freshly published memoir, titled Ithaki, the former premier Tsipras does not hold back while he reflects on that chaotic period of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's recollections, he chose the maverick economist Yanis Varoufakis as his treasury head largely because of the latter's worldwide fame along with Varoufakis's “extremely attractive” skills as a communicator.
“In reality, he was, truthfully, more like a star rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief possessed a personal motives that involved promoting his books as well as testing out his own game theories using the nation instead of truly advocating the country's economic stability.
He explained how the negotiations to prevent insolvency became “not just a way of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid volatile discussions, Greece found itself perilously close to leaving the single currency area.
On the line was not only the country's destiny but also the punishing austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the excoriating conditions were subjected to a popular referendum, a move that plunged Europe into further existential crisis.
Although the vote was carried decisively by voters against the cuts, Tsipras was forced but to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy that included establishing a secondary currency and distributing coupons to retirees, the leader said he realised it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding complex and delicate management.”
Tsipras also wrote how his aggressive style left him increasingly isolated with colleagues, endangered the country, while helped hardliners who were pushing for Grexit.
This account of events has been met with anger and shock among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.