In a newly released memoir, titled Ithaki, the former leader Tsipras does not hold back while he examines the chaotic era of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's account, Tsipras selected that maverick economist Yanis Varoufakis as his finance minister primarily because of the latter's global profile along with his highly compelling abilities when it came to speaker.
“He was, actually, more of a star rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis possessed his own motives which included advancing Varoufakis's books as well as experimenting with his theories using the nation rather than truly advocating the country's financial survival.
Tsipras noted that those discussions to prevent insolvency became “not just a method of achieving improved terms for Greece. They were an experiment, a monumental chance to prove the validity of his ideas.”
Critical Talks
Amid volatile negotiations, the country came perilously close to exiting the single currency area.
At stake lay not only the country's future but also those punishing austerity measures required in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those excoriating bailout terms were put to a popular referendum, a move that threw Europe into a further existential crisis.
Although the referendum was won resoundingly by those against austerity, the prime minister had little option but to ignore the result then agree to a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally had proved himself “unfit for a deal demanding complex and delicate handling.”
He further claimed that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
