In a recently unveiled memoir, called Ithaki, the ex- premier Tsipras pulls no punches while he examines that turbulent era during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, he appointed the unorthodox academic Yanis Varoufakis to be the finance minister primarily because of the latter's international reputation along with Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more like a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief possessed his own agenda that included promoting Varoufakis's books and testing out his theories using Greece rather than truly advocating the country's economic stability.
He explained that the talks to prevent insolvency were “not just a method to secure a better deal for the country. They were an experiment, an historic chance to prove the truth of his ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
At stake lay both Greece's future but also those severe cutbacks required in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, a move that plunged Europe into a further crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, the prime minister was forced but to ignore the result and negotiate a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author concludes how Varoufakis had proved himself “unfit for a deal that required intricate and sensitive management.”
He further wrote how Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were pushing for Grexit.
The retelling of events has provoked anger and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
