In a newly released memoir, titled Ithaki, the former leader Tsipras pulls no punches as he revisits that turbulent era during Greece's debt drama.
A Controversial Choice
In Tsipras's account, he chose that unorthodox economist Yanis Varoufakis to be his treasury head primarily because of his worldwide fame and Varoufakis's very persuasive abilities when it came to speaker.
“He was, truthfully, more like a star rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis possessed a personal motives which involved promoting Varoufakis's books and testing out his theories on the nation rather than genuinely advocating the country's financial survival.
Tsipras noted that the negotiations to prevent bankruptcy became “not just a method of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
At stake lay not only the country's future and the severe cutbacks required in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, an action that threw the EU into a deeper crisis of identity.
Even though the vote was won resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result and negotiate a rescue deal with creditors that proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement demanding intricate and sensitive management.”
He further wrote that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and assisted hawks that were pushing for Grexit.
This retelling of history has been met with fury along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
