In a recently unveiled personal account, called Ithaki, the ex- premier Tsipras does not hold back while he reflects on that chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, Tsipras selected the maverick economist Yanis Varoufakis to be his finance minister mainly because of the latter's global profile along with his highly compelling abilities as a public orator.
“In reality, he was, truthfully, more of a personality and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis had a personal agenda that involved advancing Varoufakis's books as well as experimenting with his game theories using the nation instead of genuinely fighting for the country's financial survival.
Tsipras explained how those talks to stave off bankruptcy became “not only a way to secure a better deal for Greece. They became an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense discussions, the country found itself perilously on the brink of exiting the eurozone.
At stake lay not only the country's future and those harsh austerity policies demanded in exchange for financial aid from foreign lenders.
Failed Options
Attempts to find financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were put to a popular referendum, an action which threw the EU into a deeper existential crisis.
Even though the referendum was carried resoundingly by voters against austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving creating a parallel currency and distributing vouchers to retirees, the leader knew that it was the end and asked him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for a deal demanding intricate and delicate management.”
Tsipras also claimed how his aggressive style left him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
