In a recently unveiled memoir, named Ithaki, the former leader Tsipras spares no criticism while he revisits the turbulent period during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis as his finance minister mainly because of his worldwide fame and his very persuasive skills as a communicator.
“He was, truthfully, more like a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal agenda that involved advancing his books as well as testing out his own theories on Greece instead of truly fighting for its economic stability.
He noted how the discussions to prevent bankruptcy were “not just a way to secure a better deal for the country. They became a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid volatile discussions, the country found itself dangerously close to leaving the eurozone.
On the line lay not only Greece's destiny but also the harsh cutbacks required in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were subjected to a public vote, a move that threw the EU into further existential crisis.
Although the referendum was carried decisively by voters against austerity, the prime minister was forced to reject its outcome then negotiate a bailout package from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included creating a secondary currency and issuing coupons to retirees, Tsipras said he realised that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He also claimed how his confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
The account of history has been met with fury along with shock among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
