Within his freshly published memoir, named Ithaki, the former prime minister Tsipras pulls no punches while he reflects on that turbulent era during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, Tsipras selected the unorthodox economist Yanis Varoufakis to be his treasury head largely because of the latter's international reputation along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, truthfully, more like a star and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that Varoufakis had a personal motives that included promoting his publications as well as testing out his own theories using Greece rather than genuinely advocating the country's economic stability.
He noted that the talks to avoid bankruptcy became “not only a way of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid tense discussions, the country found itself perilously on the brink of leaving the single currency area.
On the line was not only the country's future and those punishing cutbacks required in exchange for bailout funds by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those punitive conditions were put to a public vote, an action that threw Europe into deeper crisis of identity.
Although the vote was carried decisively by those who opposed austerity, the prime minister was forced but to ignore the result then negotiate a bailout package with creditors that proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes that his former ally had proved himself to be “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras also claimed how his confrontational approach made him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
