Within his recently unveiled personal account, called Ithaki, the former prime minister Tsipras pulls no punches while he revisits the turbulent period during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, Tsipras chose that unorthodox academic Yanis Varoufakis as the finance minister primarily due to the latter's international reputation and his “extremely attractive” abilities as a communicator.
“He was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief had his own motives that involved advancing Varoufakis's publications and experimenting with his economic models on Greece rather than genuinely advocating its economic stability.
Tsipras noted that those negotiations to stave off insolvency were “not only a way to secure improved terms for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During volatile discussions, the country found itself perilously on the brink of leaving the single currency area.
At stake lay not only Greece's future but also the punishing austerity measures required in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
That summer, the punitive conditions were subjected to a public vote, a move which plunged Europe into a deeper existential crisis.
Although the vote was won decisively by those against austerity, the prime minister was forced to reject its outcome and agree to a bailout package with foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis 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.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis had proved himself “unfit for a deal that required complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating Grexit.
This account of history has provoked anger and shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
