In a newly released autobiography, titled Ithaki, the former premier Tsipras does not hold back as he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras selected the maverick academic Yanis Varoufakis as the finance minister mainly due to the latter's global profile and his “extremely attractive” abilities as a speaker.
“He was, actually, more like a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief had a personal agenda which included promoting his books as well as experimenting with his theories on Greece rather than genuinely fighting for the country's economic stability.
He wrote how those talks to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
During rollercoaster discussions, Greece came dangerously close to leaving the single currency area.
On the line lay both Greece's destiny but also the severe austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, a move which plunged the EU into deeper existential crisis.
Even though the referendum was won resoundingly by those against austerity, Tsipras had little option but to reject its outcome and agree to a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for a deal demanding complex and sensitive handling.”
He further wrote how his confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
The account of history has been met with anger along with shock among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.