Within his freshly published autobiography, titled Ithaki, the former premier Tsipras pulls no punches while he reflects on that turbulent era during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, he selected that maverick economist Yanis Varoufakis to be his treasury head mainly due to the latter's international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“He was, in reality, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief possessed his own agenda that involved advancing Varoufakis's books as well as experimenting with his own game theories on the nation rather than truly advocating the country's financial survival.
Tsipras noted that the discussions to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They became a test, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
Amid volatile negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay both the country's destiny but also those harsh austerity policies required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, an action which plunged Europe into a deeper existential crisis.
Even though the referendum was won resoundingly by voters who opposed the cuts, Tsipras had little option but to ignore the result and negotiate a rescue deal from foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over questioning him: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational 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 fury and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
