Within his freshly published memoir, called Ithaki, the ex- prime minister Tsipras does not hold back while he reflects on that chaotic period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's recollections, he selected the unorthodox economist Yanis Varoufakis to be his treasury head mainly because of the latter's international reputation and Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis had his own motives which included advancing Varoufakis's books and testing out his economic models on Greece instead of genuinely advocating the country's economic stability.
Tsipras explained that those discussions to stave off insolvency were “not only a way of achieving improved terms for Greece. They were an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country found itself dangerously on the brink of leaving the eurozone.
At stake was not only Greece's future and those punishing austerity measures required in exchange for bailout funds by international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing vouchers to retirees, the leader said he realised it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras further claimed how his confrontational style made him more and more alone with colleagues, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
This account of history has provoked fury and shock in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
