Within his newly released personal account, named Ithaki, the ex- premier Tsipras pulls no punches as he reflects on that chaotic era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, he chose that unorthodox economist Yanis Varoufakis to be his finance minister primarily because of the latter's global profile along with his highly compelling skills as a public orator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis had his own agenda which included promoting Varoufakis's books as well as experimenting with his game theories on Greece rather than genuinely fighting for the country's economic stability.
He explained how the talks to prevent insolvency became “not only a way of achieving improved terms for Greece. They were a test, an historic chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
On the line lay not only the country's destiny and the harsh austerity policies required in exchange for rescue loans from international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the punitive conditions were subjected to a public vote, an action that plunged the EU into further existential crisis.
Even though the vote was won decisively by voters who opposed the cuts, the prime minister was forced to ignore the result and negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate management.”
He also wrote that his confrontational style left him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
This retelling of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
