Within his recently unveiled memoir, named Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits the turbulent era during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, Tsipras chose the unorthodox academic Yanis Varoufakis to be his finance minister largely because of his worldwide fame and his very persuasive skills when it came to speaker.
“He was, actually, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief possessed his own motives which included promoting Varoufakis's publications as well as experimenting with his economic models on Greece rather than genuinely fighting for the country's economic stability.
He noted that the discussions to prevent insolvency were “not just a method to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
At stake was not only the country's future but also those severe austerity measures demanded in exchange for bailout funds from international creditors.
Failed Alternatives
Attempts to find financing from other sources, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were put to a public vote, a move which threw Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package from creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing coupons to pensioners, the leader knew it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that his former ally had proved himself “unfit for a deal demanding complex and delicate management.”
He also claimed that his confrontational style made him increasingly isolated among peers, put Greece at risk, and helped hawks who were pushing for Grexit.
This account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
