Within his freshly published memoir, titled Ithaki, the former leader Tsipras spares no criticism as he examines the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he appointed that maverick academic Yanis Varoufakis to be the finance minister mainly due to his international reputation along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis had his own agenda which involved promoting Varoufakis's publications as well as experimenting with his economic models on the nation rather than genuinely advocating the country's financial survival.
Tsipras explained how the negotiations to stave off insolvency were “not only a way to secure a better deal for Greece. They became a test, an historic chance to prove the truth of his economic theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself dangerously close to exiting the eurozone.
At stake was both the country's future but also those punishing cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper existential crisis.
Although the vote was won decisively by those against the cuts, Tsipras had little option to reject its outcome and agree to a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy that included creating a parallel currency and issuing vouchers to retirees, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras further wrote how his confrontational approach made him increasingly isolated with colleagues, endangered the country, while helped hawks who were advocating Grexit.
The retelling of events has been met with fury and shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.