Within his freshly published memoir, titled Ithaki, the ex- premier Tsipras does not hold back while he examines that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, he selected the maverick academic Yanis Varoufakis as the finance minister mainly due to his international reputation and Varoufakis's very persuasive skills when it came to communicator.
“He was, in reality, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief had his own motives that included promoting his books as well as testing out his theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras noted how the talks to avoid insolvency became “not only a method of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece came dangerously on the brink of leaving the single currency area.
At stake lay both Greece's future and those severe austerity policies required in return for financial aid by foreign lenders.
Failed Options
Efforts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move that plunged Europe into deeper crisis of identity.
Even though the vote was won decisively by voters who opposed austerity, Tsipras had little option but to reject its outcome then negotiate a bailout package with foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who drew publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also wrote how his aggressive approach made him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
The account of history has provoked fury along with shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
