Within his freshly published autobiography, named Ithaki, the former prime minister Tsipras does not hold back as he examines that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, he chose the unorthodox academic Yanis Varoufakis to be his finance minister mainly because of the latter's global profile along with Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief possessed his own motives which involved advancing his books and experimenting with his economic models using the nation instead of genuinely advocating its financial survival.
He noted how the negotiations to prevent bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, an historic opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
During volatile discussions, the country found itself perilously close to leaving the eurozone.
On the line was not only Greece's future but also those severe cutbacks demanded in exchange for rescue loans by international creditors.
Failed Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh bailout terms were subjected to a public vote, a move which threw Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters against austerity, the prime minister had little option to reject its outcome then agree to a bailout package from foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency and distributing vouchers to retirees, the leader knew that it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed that his confrontational style left him more and more alone among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
This account of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
