Within his newly released autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he examines the chaotic period of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras chose the maverick economist Yanis Varoufakis to be his finance minister primarily due to his global profile along with his very persuasive abilities as a speaker.
“In reality, he was, truthfully, more like a star and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief possessed a personal motives which involved advancing his publications and testing out his own economic models on Greece rather than genuinely fighting for the country's economic stability.
Tsipras wrote that the discussions to prevent insolvency became “not only a way to secure a better deal for the country. They were an experiment, a monumental chance to prove the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line lay both Greece's future but also the punishing austerity measures required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive conditions were put to a public vote, an action which plunged the EU into further existential crisis.
Even though the referendum was carried resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal from creditors which proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who graced the covers of magazines globally … it seemed he relished his new role.”
When the minister outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras also claimed that his aggressive style left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
