In a freshly published memoir, named Ithaki, the former premier Tsipras does not hold back while he examines the turbulent era during Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, Tsipras chose the unorthodox economist Yanis Varoufakis to be the finance minister primarily because of his international reputation along with his “extremely attractive” abilities as a speaker.
“He was, in reality, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis had a personal agenda that involved advancing Varoufakis's books and testing out his game theories on the nation instead of truly advocating its economic stability.
Tsipras wrote that the talks to stave off insolvency became “not just a way to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of his theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself perilously close to exiting the single currency area.
On the line lay both the country's future but also the severe cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, a move that plunged the EU into deeper crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, the prime minister had little option to ignore the result and agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, the leader knew that it was the end questioning him: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal that required complex and delicate handling.”
Tsipras further claimed how his confrontational approach made him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.