In a recently unveiled autobiography, named Ithaki, the ex- premier Tsipras spares no criticism while he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, Tsipras appointed the unorthodox academic Yanis Varoufakis as his finance minister primarily due to his global profile and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief had his own agenda that involved advancing his books as well as experimenting with his own economic models using the nation instead of genuinely fighting for the country's economic stability.
He noted that the discussions to avoid insolvency were “not only a method to secure a better deal for Greece. They became an experiment, a monumental chance to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line lay not only the country's destiny but also those severe austerity policies required in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to find funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those harsh conditions were put to a popular referendum, an action that threw Europe into a deeper existential crisis.
Although the vote was won resoundingly by voters against austerity, the prime minister was forced to ignore the result then agree to a bailout package from creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency and issuing coupons to retirees, the leader said he realised it was the end questioning him: “Is this for real?”
Lasting Criticism
In the memoir, the author asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of history has provoked anger and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.