Within his newly released autobiography, named Ithaki, the former premier Tsipras pulls no punches as he revisits the turbulent era during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he chose the maverick academic Yanis Varoufakis to be his finance minister primarily due to the latter's international reputation and his “extremely attractive” skills as a speaker.
“He was, truthfully, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that Varoufakis had his own motives which included promoting his publications as well as experimenting with his theories using Greece rather than truly fighting for its economic stability.
He wrote that the discussions to avoid insolvency became “not only a way to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
During rollercoaster negotiations, Greece came dangerously close to exiting the eurozone.
On the line was not only the country's future but also those harsh austerity policies demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and U-Turn
That summer, those punitive conditions were put to a popular referendum, an action which threw the EU into deeper crisis of identity.
Although the vote was won decisively by those against austerity, Tsipras was forced to reject its outcome then negotiate a bailout package with creditors that turned out to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency and issuing coupons to retirees, Tsipras knew it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for a deal that required complex and delicate handling.”
He further claimed that his aggressive style left him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating Grexit.
The account of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
