In a newly released autobiography, called Ithaki, the ex- prime minister Tsipras does not hold back while he examines the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he chose that unorthodox academic Yanis Varoufakis to be his treasury head largely because of the latter's international reputation along with his very persuasive abilities as a speaker.
“In reality, he was, actually, more like a celebrity and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief had a personal motives which involved promoting Varoufakis's books and experimenting with his own theories on Greece instead of truly fighting for the country's economic stability.
He noted how the talks to avoid insolvency became “not only a method of achieving a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During tense discussions, the country came dangerously close to leaving the eurozone.
On the line was not only Greece's destiny but also the severe austerity policies demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the harsh conditions were put to a public vote, an action which plunged the EU into further crisis of identity.
Even though the referendum was carried resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then agree to a bailout package from foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and sensitive handling.”
He further wrote how Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
The retelling of history has been met with anger and stunned disbelief among certain groups, while the former minister has kept a deafening silence regarding these claims.