In a recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras does not hold back while he examines the turbulent era of Greece's debt drama.
A Controversial Appointment
In Tsipras's version, he chose that unorthodox economist Yanis Varoufakis to be his treasury head primarily due to the latter's worldwide fame and his highly compelling abilities as a speaker.
“He was, actually, more like a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief had a personal motives that included advancing Varoufakis's books and experimenting with his game theories on Greece rather than truly advocating its economic stability.
Tsipras wrote that those discussions to avoid bankruptcy became “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid volatile negotiations, the country found itself perilously close to exiting the eurozone.
At stake lay not only Greece's future and those punishing austerity measures demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating conditions were subjected to a public vote, a move that threw the EU into deeper crisis of identity.
Although the referendum was carried decisively by voters against the cuts, Tsipras was forced to ignore the result and negotiate a bailout package with foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan that included creating a parallel currency and distributing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
He also wrote that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
The account of events has provoked fury and shock in some quarters, whereas the former minister has kept a deafening silence on the matter.
