Within his freshly published autobiography, titled Ithaki, the ex- leader Tsipras does not hold back while he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed the unorthodox economist Varoufakis to be his treasury head largely because of his worldwide fame and his very persuasive abilities as a public orator.
“He was, truthfully, more of a star rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief possessed his own agenda that involved promoting his publications as well as testing out his theories using the nation instead of truly fighting for its economic stability.
Tsipras explained how the discussions to avoid bankruptcy became “not just a way to secure improved terms for the country. They became an experiment, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Negotiations
During tense discussions, the country came dangerously on the brink of leaving the single currency area.
On the line was both Greece's future but also those severe cutbacks demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, an action which threw Europe into further crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author concludes that his former ally had proved himself “unfit for a deal that required complex and sensitive management.”
He also claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were advocating Grexit.
This retelling of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
