Within his recently unveiled personal account, titled Ithaki, the former premier Tsipras does not hold back as he examines the chaotic period of Greece's debt drama.
An Unconventional Choice
According to Tsipras's version, Tsipras chose that unorthodox academic Yanis Varoufakis to be the finance minister mainly because of his worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis had a personal motives which involved promoting his books as well as testing out his own theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras noted that the negotiations to avoid bankruptcy were “not only a method of achieving improved terms for Greece. They became a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously close to exiting the single currency area.
At stake lay not only the country's future and those severe cutbacks demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the harsh conditions were subjected to a public vote, an action that plunged Europe into further existential crisis.
Even though the vote was won decisively by those against the cuts, Tsipras was forced but to ignore the result and agree to a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal that required intricate and sensitive handling.”
Tsipras also wrote how his confrontational approach made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of history has provoked anger and shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
