Within his newly released personal account, titled Ithaki, the ex- leader Tsipras pulls no punches while he examines the chaotic era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, he appointed the maverick economist Varoufakis to be his finance minister mainly due to the latter's worldwide fame along with Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, actually, more of a star rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis possessed his own motives that included promoting his publications as well as testing out his own economic models using Greece rather than genuinely fighting for the country's economic stability.
Tsipras wrote that those discussions to prevent insolvency were “not just a way of achieving improved terms for Greece. They were a test, an historic opportunity to prove the truth of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece found itself perilously close to exiting the single currency area.
At stake lay both Greece's future and the harsh austerity measures required in exchange for financial aid from foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move that threw Europe into a deeper crisis of identity.
Although the vote was won resoundingly by voters against austerity, the prime minister had little option to reject its outcome then agree to a bailout package with creditors which proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, the leader said he realised it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts that his former ally had proved himself “unfit for a deal demanding intricate and delicate management.”
He further claimed that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has provoked anger and shock among certain groups, whereas the former minister has kept a deafening silence on the matter.