Within his recently unveiled autobiography, called Ithaki, the former premier Tsipras spares no criticism while he revisits the chaotic period during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, he chose that maverick academic Varoufakis as the finance minister largely due to his international reputation along with his very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader suggests that his finance chief had a personal agenda which involved promoting his books as well as experimenting with his own economic models on Greece instead of truly advocating the country's economic stability.
He explained how those discussions to avoid bankruptcy became “not only a way of achieving a better deal for Greece. They became a test, a monumental opportunity to demonstrate the validity of his theories.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line lay both the country's future but also those severe austerity policies required in return for financial aid by foreign lenders.
Failed Options
Efforts to secure financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move which plunged Europe into a further crisis of identity.
Even though the referendum was carried resoundingly by voters against the cuts, Tsipras was forced but to ignore the result then agree to a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, Tsipras said he realised it was game over questioning him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis demonstrated himself “unfit for a deal demanding intricate and delicate handling.”
He further claimed that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
The account of history has provoked fury and stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
