Within his newly released personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits the chaotic period of Greece's debt drama.
An Unconventional Choice
In the ex-PM's version, Tsipras chose the unorthodox economist Yanis Varoufakis as his treasury head largely because of his international reputation and Varoufakis's highly compelling skills when it came to speaker.
“He was, actually, more of a personality rather than an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis had a personal agenda that involved promoting his books and testing out his game theories on the nation rather than genuinely fighting for the country's financial survival.
He wrote how the talks to prevent insolvency were “not only a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
Amid tense discussions, the country found itself perilously close to leaving the single currency area.
At stake was not only the country's destiny and those harsh austerity measures required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, a move that threw Europe into a deeper existential crisis.
Even though the vote was carried resoundingly by those against the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package with creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy that included creating a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
He also claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of events has been met with fury and shock among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
