In a freshly published autobiography, named Ithaki, the ex- leader Tsipras does not hold back while he reflects on that turbulent era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, Tsipras appointed that maverick academic Yanis Varoufakis as his finance minister largely because of his international reputation and Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, actually, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges how Varoufakis had his own motives that involved advancing his publications and testing out his economic models on Greece rather than genuinely fighting for its economic stability.
Tsipras explained that the negotiations to stave off bankruptcy became “not just a method to secure improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid tense negotiations, the country found itself perilously on the brink of exiting the eurozone.
On the line was both the country's destiny but also those harsh cutbacks demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those harsh bailout terms were subjected to a popular referendum, a move which threw the EU into a further crisis of identity.
Even though the vote was carried decisively by voters against the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package from foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for an agreement that required complex and sensitive handling.”
He further wrote that his confrontational style left him more and more alone among peers, put Greece at risk, while helped hawks who were advocating Grexit.
This account of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
