In a newly released personal account, called Ithaki, the former prime minister Tsipras spares no criticism while he revisits the chaotic era during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, Tsipras selected that unorthodox academic Yanis Varoufakis to be his finance minister mainly because of his global profile along with Varoufakis's “extremely attractive” skills as a communicator.
“In reality, he was, in reality, more like a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed a personal agenda which included promoting his publications as well as experimenting with his theories using Greece rather than genuinely fighting for the country's economic stability.
Tsipras noted how those discussions to avoid bankruptcy became “not just a way to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay both the country's future but also the punishing austerity policies demanded in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating conditions were subjected to a public vote, a move which threw Europe into a further existential crisis.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to reject its outcome and agree to a rescue deal from creditors which proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive management.”
Tsipras also wrote that his aggressive approach left him increasingly isolated among peers, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
