Within his recently unveiled memoir, called Ithaki, the former prime minister Tsipras spares no criticism while he examines the turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he chose that maverick economist Yanis Varoufakis to be the treasury head mainly because of his worldwide fame and his “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more of a star rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had a personal motives that involved promoting Varoufakis's publications and experimenting with his economic models using the nation instead of genuinely advocating its economic stability.
Tsipras noted how those discussions to prevent insolvency became “not only a way of achieving a better deal for the country. They were a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, Greece came perilously on the brink of exiting the single currency area.
At stake lay both the country's destiny and the harsh cutbacks demanded in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, an action which threw the EU into a further existential crisis.
Even though the vote was won resoundingly by those against the cuts, the prime minister had little option but to reject its outcome then agree to a bailout package from foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and sensitive management.”
Tsipras also wrote that Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
This account of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
