Within his newly released personal account, titled Ithaki, the former prime minister Tsipras spares no criticism while he reflects on the chaotic era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, Tsipras appointed the unorthodox economist Yanis Varoufakis as his finance minister primarily due to his international reputation and his very persuasive abilities as a communicator.
“He was, in reality, more of a personality rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader alleges that his finance chief had his own agenda which included advancing his publications and testing out his economic models on Greece instead of genuinely advocating its financial survival.
He wrote how those discussions to prevent bankruptcy were “not just a way of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Talks
Amid tense discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line was not only the country's destiny and those severe cutbacks required in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those harsh conditions were put to a public vote, a move that threw the EU into a deeper existential crisis.
Although the referendum was carried decisively by those who opposed the cuts, Tsipras had little option but to reject its outcome then negotiate a rescue deal from creditors which turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and delicate handling.”
He further wrote how his confrontational approach made him increasingly isolated with colleagues, endangered the country, while helped hardliners who were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
