Within his recently unveiled personal account, titled Ithaki, the former leader Tsipras does not hold back as he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he selected the maverick economist Yanis Varoufakis to be the finance minister mainly because of his global profile and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a celebrity and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief had a personal motives that included promoting Varoufakis's books and experimenting with his own economic models using the nation instead of genuinely advocating the country's economic stability.
He noted how the talks to prevent bankruptcy were “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Talks
Amid volatile negotiations, the country came perilously close to exiting the eurozone.
On the line lay not only Greece's destiny and the harsh cutbacks demanded in exchange for bailout funds from international creditors.
Failed Options
Attempts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, a move which threw the EU into deeper crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras had little option but to ignore the result then negotiate a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who drew publicity, who graced the covers of publications globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, the author concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He further wrote that Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
This retelling of events has provoked anger along with shock among certain groups, while the former minister has kept a deafening silence regarding these claims.