In a newly released memoir, named Ithaki, the ex- leader Tsipras does not hold back as he revisits the turbulent era of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, Tsipras selected that maverick economist Yanis Varoufakis as his finance minister largely because of his worldwide fame and Varoufakis's very persuasive abilities when it came to public orator.
“He was, truthfully, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader claims how Varoufakis possessed his own motives that involved promoting Varoufakis's publications as well as experimenting with his game theories using Greece rather than truly advocating the country's economic stability.
Tsipras explained that the negotiations to prevent insolvency became “not only a method to secure a better deal for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid tense negotiations, the country found itself perilously close to exiting the single currency area.
At stake was both Greece's future but also those punishing cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those harsh conditions were put to a public vote, an action that threw the EU into further existential crisis.
Even though the vote was won resoundingly by those against austerity, the prime minister had little option but to ignore the result then negotiate a rescue deal from creditors which proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When 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 questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
He also wrote how his confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
The retelling of events has been met with fury and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
