Within his recently unveiled memoir, named Ithaki, the ex- premier Tsipras pulls no punches while he reflects on that turbulent period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, he chose the unorthodox academic Yanis Varoufakis to be his finance minister largely due to his international reputation and his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more of a celebrity and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader alleges that his finance chief had his own motives which included advancing Varoufakis's books and experimenting with his game theories using the nation instead of truly fighting for the country's financial survival.
He noted that those discussions to avoid bankruptcy were “not only a way to secure a better deal for the country. They were a test, a monumental chance to prove the validity of his theories.”
Critical Talks
During volatile negotiations, the country found itself perilously close to exiting the eurozone.
At stake was both Greece's destiny and those harsh austerity measures required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which plunged the EU into deeper crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with creditors which proved to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the covers of publications globally … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement that required complex and delicate management.”
Tsipras also claimed how Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
The account of history has been met with anger and shock among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
