Within his newly released autobiography, called Ithaki, the former prime minister Tsipras spares no criticism while he reflects on that turbulent era of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, Tsipras selected the maverick economist Yanis Varoufakis as his treasury head largely due to his global profile and his very persuasive skills when it came to public orator.
“He was, actually, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief had a personal agenda which included promoting his publications as well as experimenting with his theories using the nation instead of genuinely fighting for its economic stability.
Tsipras explained how those discussions to avoid insolvency became “not just a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During tense negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay not only the country's future but also the harsh austerity measures demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating conditions were put to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Even though the vote was won decisively by those against the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors which turned out to be more severe.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the front pages of publications globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing coupons to pensioners, Tsipras knew it was the end and asked him: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras further wrote that his confrontational style left him more and more alone with colleagues, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
