Within his newly released memoir, named Ithaki, the former premier Tsipras pulls no punches while he examines the chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras chose the unorthodox academic Yanis Varoufakis as the finance minister largely due to the latter's worldwide fame and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis had his own motives which involved promoting his publications and testing out his theories on Greece instead of genuinely advocating the country's financial survival.
Tsipras wrote that the negotiations to avoid bankruptcy were “not just a way of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself perilously close to exiting the eurozone.
At stake was not only Greece's future and those harsh cutbacks demanded in exchange for financial aid from international creditors.
Failed Options
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, an action which plunged Europe into deeper existential crisis.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating Grexit.
This retelling of events has provoked anger and shock among certain groups, while the former minister has kept a deafening silence on the matter.