Within his recently unveiled personal account, titled Ithaki, the ex- leader Tsipras pulls no punches while he reflects on the chaotic period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, he chose that maverick economist Yanis Varoufakis to be his finance minister primarily because of the latter's international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis had his own motives which involved promoting his books as well as testing out his theories using the nation instead of truly fighting for its financial survival.
He noted that the talks to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Talks
Amid volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was not only the country's future but also the severe austerity policies required in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action which plunged Europe into a deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a bailout package from creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving creating a parallel currency and issuing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts that his former ally had proved himself “unfit for an agreement that required complex and sensitive handling.”
He also wrote that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
