In a newly released autobiography, titled Ithaki, the former premier Tsipras pulls no punches while he examines the turbulent period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, he chose that unorthodox economist Yanis Varoufakis to be the finance minister primarily because of his global profile along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief had a personal agenda that involved promoting his books and experimenting with his economic models using the nation instead of truly advocating its financial survival.
He explained how those talks to prevent bankruptcy became “not just a method to secure improved terms for Greece. They were a test, a monumental opportunity to prove the truth of his theories.”
Critical Talks
Amid tense discussions, the country came dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's destiny but also the harsh austerity measures required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, the harsh conditions were subjected to a popular referendum, an action that threw the EU into deeper crisis of identity.
Although the vote was won decisively by those who opposed the cuts, Tsipras had little option to ignore the result then agree to a rescue deal from creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
After the minister proposed a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes that Varoufakis had proved himself “unfit for an agreement that required intricate and delicate management.”
He further claimed how Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.
This retelling of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence on the matter.
